Streaming is changing the way studios give movies the green light.
A Restructuring at Paramount is in progress. Jim Gianopulos will go Parent as Chairman and CEO, replaced by Brian Robbins, who joins from Nickelodeon and was previously with AwesomenessTV. Wall Street diary reported first the change in leadership.
This change is intended to help Paramount to re-prioritize its Paramount + streaming service. That means the new goal is to change the way the studio sees titles and what they can do. It also means you will likely get simultaneous releases between digital and cinema, as well as a shift towards streaming in general.
“We will definitely be playing pitch and catch between linear and streaming,” Robbins said in an interview with The Hollywood Reporter.
Various sources have told THR that Robbins will be focusing more on mid-budget titles than tentpoles, and will be relaunching and recreating popular Paramount titles that can advance series or stories to be streamed at home.
This represents a real change in why people do things with Paramount. It’s safe to say that the studio doesn’t tackle a lot of art films, but makes sure that new titles can be premiered on their streamer. The stated goal is to get Paramount + to 65-75 million subscribers by 2024. They are currently at 42 million. To get more, they have to have a ton of enticing titles that will draw viewers in.
While many have called this the death of art, in my opinion we are wrong when it comes to where Paramount would be spending its budget anyway. It’s not that they’ve become the bastion of new voices in recent years.
Sure they had A quiet placebut they did too sound and What men want. They gave priority to tent poles and remakes. It is safe to say that this is a departure from Transformers and to mid-budget titles that can attract stars but have a smaller budget. These movies introduce less risk and the importance of brand new thumbnails with recognizable faces that they can post on their platform.
It will be interesting to see how that works out. While places like Netflix usually sway on awards and develop products at the same time, studios haven’t quite figured out how to combine the two. There is a lot of catching up to do. The good side is that they need movies and TV shows to fill these rooms. You have ideas, and hopefully this leads to an oversupply of creative people who can make art under any circumstances.
Let us know what you think in the comments.