WarnerMedia CFO hints at further release delays

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Despite tentative theater reopenings in the U.S., it seems that WarnerMedia may still be examining whether or not it will be sending films out into the marketplace.

Tenet is due for release in foreign markets at the end of the month followed by a U.S. release on Sept. 4. But, of course, our eyes are on Wonder Woman 1984 in Oct., and with some new comments from Warner Media, we question if that will happen.

Following a major round of layoffs at the various departments of WarnerMedia on Monday, CFO John Stephens spoke with investors at the Oppenheimer Virtual Technology, Internet & Communications Conference. It seems some decisions are still very much in play.

Stephens shared that the coronavirus pandemic is “forcing us to look at new ways to distribute content,” and that includes outside of cinemas.

Speaking specifically to upcoming theatrical release plans, Stephens said, “I am not certain where those are going to go,” and suggested it was possible for “further delays in some of the titles” as everything in the business remains very much in flux.

Stephens did share that one of the driving forces of the layoffs on Monday were centered around a “real focus” on shifting more to a direct-to-consumer business model. “I view it more as a refocusing of the company,” said Stephens.

It sounds as though nothing is certain at this time, and we should definitely still not consider any release dates as being written in stone.

Wonder Woman 1984 is scheduled to hit theaters on Oct. 2.


SOURCE: The Hollywood Reporter