Some films are foregoing theaters in favor of digital exclusives, while others are bracing for a crowded, complicated marketplace once COVID-19 passes. Matt Jacobs, our resident film reporter, took a deep look at the movie industry and how it will continue amid a global pandemic. Several films — including “The Invisible Man” and “Never Rarely Sometimes Always” — are already available on demand. Others, like the highly anticipated “Candyman,” have pushed their release dates to later in the year. Must Reads talked to Jacobs about what this means for audiences and the film industry.
Tell me about how you approached writing this story.
As a movie reporter, I’m not sure I’ve ever written a story where the information was changing in real time so rapidly. When I first started, it was under the guise that maybe a couple of current movies would hit VOD platforms early. By the time I finished, the entire industry had effectively shut down and nearly 20 titles were being fast-tracked to people’s homes. I wanted to parse out the economic impact of that strategy and think about how it relates to Hollywood’s broader existential questions about the streaming revolution.
Did anything surprise you in your reporting?
I was surprised more studios didn’t want to make the directors of these movies available for interviews. Universal Pictures said the directors of “Trolls World Tour” weren’t available, and Sony did the same for the director of “Bloodshot.” It seemed a bit sheepish, honestly, like they might be worried the filmmakers would express disappointment about executive-level decisions. That’s just my projection, and of course there are a number of reasons why journalists aren’t granted interviews when they’re requested. But this was essentially an opportunity for these movies to get as much attention as possible from a global news outlet. Why not play ball?
What are some of the movies that were slated to be released that you were really excited about seeing and writing about?
I’m most disappointed to wait for “Candyman” (moved from June to September), Wes Anderson’s “The French Dispatch” (moved from July to October) and Chris Rock’s new “Saw” movie (date unknown). I was also amped to write about “Saint Maud,” a fantastic horror movie that was supposed to open April 12, but I’ll have to table my affection for that one.
What lessons do you think Hollywood could learn about its audiences during this moment?
This could force the industry to reckon with how to best serve audiences now that theatergoing had lost some of its luster. The fact that blockbusters routinely cost between $100 million and $300 million proves how much Hollywood has backed itself into a corner financially. There’s no way to recoup such colossal budgets through VOD exclusives, and studios today bank their entire profits on these franchise tentpoles. If more mainstream movies were made for, say, $20 million, the industry might not be facing such a crisis during the pandemic. Obviously, no one could have predicted COVID-19, but these trends have been mounting for over a decade. I’m just as excited as anyone to get back to theaters, but it might be time to build a future where Hollywood’s money flow makes more sense.
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