Based on all the bad reviews, the film likely would have been a flop, but the studio still had to pay star Hugh Jackman as if it had been a hit. However, the studio has faced heavy costs for going that route as well, especially with a movie like “Reminiscence,” which opens this weekend. In some ways, the continued hesitancy to go to the movies makes WarnerMedia look smart in deciding to stream all its 2021 films on HBO Max the same day they open in theaters. It’s possible the studio will push it again if case numbers continue to rise, but at some point MGM will just have to release the film because there are major marketing costs that come into play every time the release date is changed. MGM pushed the release date multiple times throughout 2020, and now it’s scheduled to come out Oct 8, 2021, in the U.S. One film to keep an eye on is “No Time to Die,” the newest James Bond film.
With “Hotel Transylvania 4,” Sony dropped the theatrical release altogether and sold it to Amazon for streaming. Sony had already moved the release date of its “Venom” sequel, and just shifted it again, from September to October. Studios have to decide to put their big movies in theaters, knowing not as many people will come, or sell films to a streaming service and lose out on box office revenue. But with the Delta variant on the rise, Hollywood is in a tough spot. Late summer and early fall was supposed to be the big return to movie theaters.
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