Key Takeaways:
• Elizabeth Olsen's upcoming Netflix movie, His Three Daughters, will adopt a new trend of limited theatrical release before streaming.
• This move aims to maximize profitability as theaters regain business post-pandemic.
• Studios are realizing that theatrical releases can generate higher profits than streaming platforms.
• His Three Daughters will be in select theaters on September 6, then available on Netflix from September 20.
Elizabeth Olsen, from the Shining Marvel Universe to the Streaming Giant Netflix
Elizabeth Olsen, known globally for her significant role as Wanda Maximoff in Marvel's Avenger series, is taking a different cinematic route. Contrasting her usual superhero narrative, she's diving into a dramatic role in Netflix's upcoming movie, His Three Daughters. This film takes a unique path to viewers, stepping into theaters first before surfacing on Netflix.
The film's storyline reveals three sisters who return to their father's home as he battles a major health crisis. This eye-opening narrative is directed by Azazel Jacobs and sees Olsen sharing the big screen with fellow thespians Carrie Coon and Natasha Lyonne.
The Rise of Theatrical Releases Before Streaming
The movie will first reach audiences through a limited theatrical release on September 6 and will be available for streaming on Netflix from September 20. This business strategy, previously used by Glen Powell's film Hit Man, has proven to significantly boost profitability.
Hit Man, directed by Richard Linklater, managed to achieve great success. With an impressive score of 96% on Rotten Tomatoes, it grossed over $1.9 million in worldwide box office earnings, marking a notable triumph in this unconventional model of release.
The Winning Strategy behind Theater-to-Streaming Releases
Hollywood's shifting towards theatric releases, sees studios focusing on driving revenue. Eric Handler from Roth MKM, believes that premiering movies in theaters before turning to digital platforms is the most effective approach to optimize profit.
Studios are learning quickly that while releasing exclusive content on streaming sites may lure new subscribers, investors expect more – clear signs of profitability, that is. Releasing a movie in theaters does seem a risky move, but Paul Dergarabedian, senior media analyst at Comscore, suggests there's a direct relationship between box office success and broad releases.
The Power of Collective Ticket Sales
Although films that follow this model may not hit the staggering $200+ million blockbuster earnings, they do gather substantial ticket sales at the box office. This profit nugget is always a welcome bonus for directors and producers. This frosting on the box office cake is encouraging producers to experiment with this model.
An Adapting Film Industry
The film industry has shown its resilience and flexibility amidst pandemic-induced challenges. Using creative strategies to ensure maximum profitability has now become paramount in movie production. His Three Daughters is another example of how Hollywood is leveraging theater releases to optimize earnings, before transferring to a streaming platform.
Our cinema landscape is changing, with unique business models like this leading the charge in maximizing profits for movie-makers. It's safe to say we can expect a fine blend of emotional depth and superb acting with Elizabeth Olsen in His Three Daughters, hitting theaters on September 6. Don't forget to grab your popcorn and seize the chance to watch it in theaters before it heads over to Netflix from September 20.
