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The epidemic has accelerated the destruction. Paramount, Universal, Sony, Warner Bros. and Disney, have directed dozens of feature films to streaming services or streamed simultaneously in theaters and online. The Academy of Motion Picture Arts and Sciences has denied films for two consecutive years, citing the coronavirus threat. skip a theatrical release altogether and still might be eligible for an Oscar. The Academy had previously requested at least one defective theatrical performance of at least one week in Los Angeles.
This is more than Hollywood selfishness. The concern is that as streaming services proliferate – with more than 300 currently operating in the United States, according to consulting firm Parks Associates – theaters may simply become the land of superheroes, sequels and remakes. The venerable Warner Bros. has nearly halved its annual movie output and built a direct-release film assembly line. Last week, Amazon strengthened its Prime Video service by acquiring Metro-Goldwyn-Mayer, the former studio behind “Licorice Pizza,” which was nominated for three Academy Awards, including best picture.
Hollywood in a year largely failed to debut in theatrical cinema, streaming services solidified their grip on viewers. According to the Motion Picture Association, global ticket sales fell from $42.3 billion in 2019 to $21.3 billion in 2021. (Theatres were closed for most of 2020.) Some theater companies closed, others merged; The world’s largest theater chain, AMC Entertainment, has lost $6 billion in the last two years and its shares have fallen 66 percent since June. At the same time, the group said the number of subscriptions to online video services worldwide increased from 864 million to 1.3 billion in 2019.
One film that struggled at the box office was Mr. Spielberg’s “West Side Story,” which took nearly three months to be screened (at his own request) in theaters. It has raised approximately $75 million worldwide (versus a production budget of $100 million and global marketing costs of approximately $50 million). “West Side Story” is now available on not one but two streaming services, Disney+ and HBO Max, and is almost certainly more widely watched than in theaters. But the movie never escaped being stigmatized – among Oscar voters – as a box office mishap. She received seven nominations and is poised to win in one category for Ariana DeBose as best supporting actress.
Mr. Spielberg’s presence in the current Oscar race makes the rise of broadcast contenders even more striking: lion in fight Focusing the Academy Awards on feature films is being pushed aside.
It’s possible, although unlikely, that “West Side Story” will come from behind and win the best picture award. Kenneth Branagh’s “Belfast” could be about that too. Such an outcome is somewhat similar to 2019, which was shut down by academy voters. extreme campaign Awarded by Netflix for pushing “Roma” to best picture victory.Green Book” A traditional film from Universal Pictures.
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