While streaming giants such as for example Netflix and Warner Bros. Discovery have signaled a slowdown in content spending, Sony Pictures have not yet felt a big change.
I dont think the shelling out for content has changed dramatically. What sort of companies are increasingly being managed has changed dramatically, said Tony Vinciquerra, Chairman and CEO of Sony Pictures Entertainment.
Speaking at the lender of America Securities 2022 Media, Communications & Entertainment Conference Thursday, Vinciquerra said Sony Pictures, that includes a five-year, first-pay-window licensing cope with Netflix, and an identical deal with Disney, isn’t terribly worried about the rhetoric and contains not shifted its production plans. That said, Vinciquerra believes the amount of content spending changes once his predicted consolidation of streaming platforms begins.
The planet doesnt need six or seven general subscription video services, Vinciquerra said.
Sony Pictures will be able to survey the streaming landscape as a self-described arms dealer for the a posture Vinciquerra notes hes pleased to maintain given the money streamers are spending to compete. Along with its handles Netflix and Disney, the business also licenses and makes content for Amazon, Apple, Peacock and Warner Bros. Discovery. (Sony Pictures notably produced the series Gordita Chronicles at HBO Max, a critically acclaimed show that has been recently canceled after one season, in a choice Vinciquerra said he was scratching [his] head about.)
The studio is amid negotiating a cope with Netflix because the streamer prepares to launch a fresh advertising-supported tier. For the ad-supported tier, Netflix has usage of the Sony Pictures content it has commissioned, but there exists a large amount of library content it currently doesn’t have usage of, Vinciquerra said.
Asked what size of a chance this may be for Sony Pictures, Vinciquerra declined to go over specifics, because the studio is amid negotiations, but said he believes it’ll be something significant.
Seeking to the theatrical releases, Vinciquerra said he views the 45-day window as helpful information, but ultimately believes in flexible windows for films, citing the exemplory case of Spider-Man: NO CHANCE Home remaining in theaters for a lot more than 90 days, while lower performing films have already been pulled sooner than 45 days.
Within the studio, Vinciquerra said hed prefer to produce 15 films per year within the coming years, but will probably reach 12 as decisions around what theatrical films to greenlight is becoming pressured by the pandemic and the rise in streaming platforms.