Thescreescore – Netflix’s strategic avoidance of wide theatrical releases for its original films has drawn sharp criticism from Cinemark CEO Shawn Gamble. During a recent earnings call, Gamble, reflecting on the phenomenal success of Apple’s F1: Drive to Survive movie—a theatrical release that significantly boosted Cinemark’s profits—labeled Netflix’s current strategy "clearly unfortunate." This comes despite the limited theatrical run of Glass Onion, which still managed a strong box office performance despite playing in far fewer theaters than many competitors. Thescreescore.com reports that Gamble highlighted the undeniable data showcasing the promotional power and brand building potential of theatrical releases, suggesting Netflix is missing a significant opportunity.
Gamble’s statement underscores a growing tension between streaming giants and traditional cinema. While Netflix boasts record-breaking quarterly revenue and subscriber growth, its reluctance to embrace wider theatrical distribution stands in contrast to other streamers like Apple and Prime Video, who have seen considerable success leveraging the big screen to boost their original content’s profile and profitability. Apple’s F1 film, for example, became a major box office hit, demonstrating the potential for theatrical releases to drive both revenue and brand awareness.
This isn’t just about box office receipts. Theatrical runs act as powerful marketing tools, generating buzz and anticipation that translates into increased streaming subscriptions. Paramount’s successful strategy with Smile and Mean Girls, initially slated for Paramount+, proves this point. These films not only generated substantial box office revenue but also significantly amplified their streaming appeal.
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Netflix’s upcoming slate, featuring highly anticipated projects like Guillermo del Toro’s Frankenstein and the Glass Onion sequel, Wake Up Dead Man, presents a compelling case for a shift in strategy. A wider theatrical release could catapult these titles to even greater heights, potentially mirroring the success of Smile, which became the highest-grossing horror film of 2022. Gamble’s comments suggest a growing belief within the industry that Netflix’s current approach may be short-sighted, potentially limiting the overall impact and profitability of its original content. The question remains: will Netflix heed the call and embrace the power of the big screen? Only time will tell.
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