Paramount Pictures Chief Brian Robbins Says Annual Release Output Will Rise To 12 To 15 By 2024 As “Path To Monetization” Improves
07.09.2022 - 20:17
/ deadline.com
Paramount Pictures chief Brian Robbins wants to boost the studio’s annual theatrical output to 12 to 15 releases, up from its current Covid-affected level of eight this year and 10 to 12 in 2023.
“Theatrical is here to stay,” Robbins said in an appearance at the Bank of America Media, Communications & Entertainment Conference. “I’m not going to say it’s going to be a growth business. I think franchises matter. I think quality matters.” Still, he continued, “I think that you will see more films” compared with the currently “weird” comeback phase after the shutdowns of Covid and the Omicron variant. Given the potency of original films as a subscriber acquisition and retention tool for streaming services like Paramount+, he added, “the path to monetization now is greater” for feature films.
Accordingly, Robbins said, the value of movie studios for their media company parents is “way more” than it was five years ago because of the streaming opportunity. Paramount Global last month reported 43 million subscribers to Paramount+, which is still rolling out to additional global territories, as of the second quarter. That was a jump from 39.6 million in the prior quarter.
Paramount has punched above its weight in 2022, releasing one of the biggest hits in Hollywood history, Top Gun: Maverick, as well as The Lost City, which proved an unforeseen smash. Echoing comments from Paramount Global CEO Bob Bakish and other colleagues, Robbins said the company has found its groove with most theatricals coming to Paramount+ 45 days after their initial release before then rolling out on linear networks. Top Gun, which has been a notable exception to the company’s “fast-follow” streaming pattern, will finally get to Paramount+ later this year,
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