Warner Bros. is guaranteeing a payout for their filmmakers. When the big studio announced that they were putting their 2021 library on HBO Max, filmmakers were less than happy about it. Many were vocal, specifically Christopher Nolan. So, now Warner Bros. has adjusted the terms of its deals with partners for filmmakers to get paid regardless of the box-office sales. This is also to “increase the odds of performance-based bonuses”.
Warner Bros. will pay a larger group of cast and crew the money made on fees collected from HBO Max. This is due to the fact that money is primarily made when films go to the big screen. Considering theaters are closed across the country due to the spread of the Coronavirus, studios have to make the decision whether or not to release online. Or just keep delaying.
Here is how Bloomberg.com has explained it:
HBO Max will pay Warner Bros. a fee for its 31-day window, and the money from that will be shared with not just profit participants, but cast and crew. Both businesses are part of AT&T Inc.’s WarnerMedia, run by streaming veteran Jason Kilar.
“HBO Max is paying a considerable fee for the ability to exhibit these films,” Kilar said in an interview last month.
What do you think?
Source: Bloomberg.com
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