Paramount Pictures Chief Brian Robbins Says Annual Release Output Will Rise To 12 To 15 By 2024 As “Path To Monetization” Improves – Deadline

Paramount Pictures chief Brian Robbins needs to spice up the studio’s annual theatrical output to 12 to 15 releases, up from its present Covid-affected stage of eight this year and 10 to 12 in 2023.

“Theatrical is here to stay,” Robbins mentioned in an look on 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, (*12*) in contrast with the presently “weird” comeback part after the shutdowns of Covid and the Omicron variant. Given the efficiency of unique movies as a subscriber acquisition and retention device for streaming companies like Paramount+, he added, “the path to monetization now is greater” for function movies.

Accordingly, Robbins mentioned, the worth of film studios for his or her media company mother and father is “way more” than it was 5 years in the past due to the streaming alternative. Paramount Global final month reported 43 million subscribers to Paramount+, which remains to be rolling out to extra world territories, as of the second quarter. That was a leap from 39.6 million within the prior quarter.

Paramount has punched above its weight in 2022, releasing one of many greatest hits in Hollywood historical past, Top Gun: Maverick, in addition to The Lost City, which proved an unexpected smash. Echoing feedback from Paramount Global CEO Bob Bakish and different colleagues, Robbins mentioned the company has discovered its groove with most theatricals coming to Paramount+ 45 days after their preliminary launch earlier than then rolling out on linear networks. Top Gun, which has been a notable exception to the company’s “fast-follow” streaming sample, will lastly get to Paramount+ later this year, Robbins mentioned.

Robbins’ mandate additionally contains main Nickelodeon and he’s additionally chief content material officer of flicks, children and household fare for Paramount+. He spoke about franchises within the children space, notably Paw Patrol but in addition much less apparent ones like Clifford: The Big Red Dog. Despite merely satisfactory theatrical field office, Clifford proved sufficient of a attract streaming that it merited a sequel.

In the youngsters space general, Robbins mentioned, “linear television has obviously been declining for a while now, but what we’ve seen is, if you take our linear share and the audience for kids that we’ve picked up on Paramount+, we actually have more audience and share of kids 2 to 11 than we’ve had in years.” As far as overlap between what viewers watch on streaming versus linear, “Surprisingly, it’s not as much as you’d think. … We were in this declining reach for years and now it’s a growth story for us. And that growth will grow all of our other lines of business,” amongst them shopper merchandise and theatrical.

Asked by moderator Jessica Reif Ehrlich, a veteran media analyst for BofA, what Paramount+ stands for as a model, Robbins cited the current deal struck between Paramount and Walmart. The firms’ pact made Paramount+ the only streaming providing made obtainable at no additional month-to-month cost to tens of millions of members of Walmart+, the retail large’s loyaly program. Robbins mentioned P+ is “very aligned with Walmart’s brand.”

As far as unique movies produced solely for streaming — a business that’s nonetheless below scrutiny at main studios — Robbins mentioned Paramount is continuous its efforts to make a few half-dozen of them every year. But the studio places them via a standard testing course of to evaluate their playability. Smile, a horror launch developing later this month, was one such instance. When its take a look at outcomes got here again robust, Robbins mentioned, “We said, ‘We have to find a way to release this theatrically.’”

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