AT&T CEO admits Tenet was a miss; not optimistic about 2021

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AT&T CEO Admits ‘Tenet’ Release Wasn’t A “Home Run” & Is “Not Optimistic” About 2021 Being Better For Films https://t.co/cWsCaKam4A pic.twitter.com/puJjOQWuOO
- The Playlist 🎬 (@ThePlaylist) October 22, 2020

AT&T's CEO John Stankey told investors yesterday what the rest of us have known for quite a while: Tenet was a misfire.

“I can’t tell you that

Comments

[scriptedending]

I was thinking about going to see it at a drive-in, but at this point I'll probably just wait til it's streaming somewhere.

I'm glad they've seemed to realize that next year is not going to be much better, because that's realistic. I think theaters will rebound when people feel safe going to them. Hopefully we see more releases come to streaming - not Fast & Furious 26 or whatever, but smaller scale releases that have been held over.

[ext_2796703]

If 2021 is not better, movie theaters will not rebound. Most will go under and possibly be bought out by Amazon or Disney.

[scriptedending]

I disagree. Ownership of some theaters will definitely change hands, and you're right, Amazon and Disney may get into the theater game. But movie theaters as a way to watch new releases will definitely rebound - most people don't have anything remotely equivalent at home.

[slaughtermatic]

i mean the concept will not tank but if disney owns your theatre the experience we know will never rebound. theyll peddle their own crap while everything else will be pushed aside and that might have consequences to movie production i cant even fathom rn. corona has helped monopolies SM. :/

[scriptedending]

corona has helped monopolies SM. :/

ugh, you're not wrong there. every few days another local restaurant announces it's going out of business... not hearing that shit about olive garden.

[slaughtermatic]

yeah :( i hate the "the world needed a reset and lets learn from this" like hell no this has made all the bad shit even worse possibly forever...

[littlepunkryo]

There's very little reason for companies like Netflix or Disney to waste money on buying a huge amount of theaters, the cost of having and owning those buildings alone cuts deeply into the profits they'd make showing their movies there. And while Disney is a zillion dollar corporation, their parks division took such a deep hit that I don't buy that their shareholders think buying up more real estate is the way to go. There's more money for them in waiting to see which venture capitalist group buys up AMC and co and then putting their big blockbusters back into theaters once they're open. What we'll probably see is mid budget movies (and ones they think will flop) being geared towards D+ from the start now, accelerating what was already happening where most people only go to theaters to see the big "event" movies and everything else they watch at home.

[slaughtermatic]

good points, and i really hope youre right! i was just thinking of the horrors that i fear would happen if disney did monopolize the theatre game but i didnt think of the practicality of the situation. i feel better!

[tracygee]

Yeah, I agree. What business is going to last one and a half to two years with basically no income. It's the end of theaters as we have known it.

[marywebgirl]

I’m hopeful that the smaller theaters here in LA will be OK, like the Landmark, because we NEED movie theaters. However the small city in Michigan where my mom lives will absolutely lose one if not both of its theaters. The best case scenario is they’ll be bought by Amazon or Disney and stay open, because there is fuck all to do there, especially in winter.

[scriptedending]

Oh yeah, I'm not too concerned about LA on that front. Of course I worry about the smaller theaters like Laemmle, which were already less attended, but there are enough movie lovers in LA to make me think they'll stay afloat.

I do think smaller markets will be hit harder, especially if they weren't making money in the good times. But if people are eager to go to the movies, a company is gonna provide that experience, and while Amazon and Disney may be a part of that, I don't think they'll be the only ones.

[l_a_r_m]

I really hope they survive! But with no end in sight who knows?

Also I've got like $130 in those Laemmele member gift cards, if it shutters i'll be so mad

[unchoco]

IA. 2021 is going to be just as bad as 2020 regardless of who is in office. My friends ask if I was going to Coachella next year. Like have you guys not been watching the news for the past 6 months? Coachella 2021 isn’t happening.

[lawofcosines]

I think this would change a lot of distribution on smaller movies since they're the ones at least having ticket sales during this pandemic. There will be a lot of changes in greenlighting tentpoles, I guess.

The big winner here will be streaming. So many smaller movies have found audiences thru Netflix, Hulu, etc and I'm glad for it.

[ritaamber]

Saw it twice at the drive in. Couldn't hear shit the first time so I took a car with louder audio so I could hear them. Wait for streaming so you can fucking subtitle.

[aristobrit]

If you can see it at a drive in, I would recommend that over waiting for streaming. It's the kind of movie that's better on a huge screen. The dvd will be out Dec. 15th.