WME Independent Co-Head on Harder Theatrical Journey, Truffle Hunting –

The rise of streaming has impacted the theatrical film business, as discussed at the third Red Sea International Film Festival’s market. Alex Walton, co-head and partner at WME Independent, emphasized the challenges of original programming and the increased competition between theatrical, TV, and streaming platforms. Star power in the social media age was also considered a critical component for independent studios. Panelists also noted that the rise of streaming isn’t an existential threat to theatrical films, but it’s affecting windowing. Additionally, Imax has diversified into local-language movies, and Saudi Arabia has seen significant growth in the cinema industry. However, the Hollywood writers and actors strikes have led to studios delaying key releases, affecting the box office.

Summery :

– The rise of streaming is changing the movie industry, affecting theatrical releases
– The competition between theatrical, TV, and streaming is making it more challenging for original films
– The use of social media and star power is increasingly important for independent films
– The rise of streaming is affecting windowing, but isn’t an existential threat to theatrical films
– Imax has diversified its offerings and is releasing more local-language movies
– The Saudi Arabian cinema industry and box office has seen significant growth since the reopening of movie theaters
– Forecasts predict that the Middle East box office will return to pre-pandemic levels by the end of 2025
– The Hollywood writers and actors strikes have led to studios delaying releases, affecting the film slate and box office

Image Credit : The Hollywood Reporter

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