In the aftermath of the Covid pandemic, studios found themselves in a unique position where they had to adapt quickly to changing consumer behaviors. The article highlights how the theatrical day-and-date model was widely embraced during the pandemic when cinemas were closed. However, as things started to normalize, studios realized the importance of a theatrical release and the downstream revenue streams it brings. This shows that despite the rise of streaming platforms, the traditional theatrical model still holds significant value in the industry.
One of the key examples mentioned in the article is the success of Universal’s adaptation of the video game “Five Nights at Freddy’s.” Despite initial skepticism and concerns about a day-and-date release, the movie defied expectations and became a massive hit. The film’s global debut of $131M and its success on the Peacock streaming platform showcase the power of a well-planned marketing strategy and audience engagement. The meticulous attention to detail in marketing materials and the involvement of the game’s creator, Scott Cawthon, further contributed to the film’s success.
While “Five Nights at Freddy’s” proved to be a profitable venture for Universal, the article also sheds light on the challenges and missed opportunities during the release. The absence of an Imax release and the potential loss of revenue from that segment point to areas where the movie could have performed even better. Additionally, the article mentions that despite the success, there were areas where money was left on the table. This underscores the importance of thorough planning and execution in maximizing the financial returns of a blockbuster film.
The case of “Five Nights at Freddy’s” serves as a valuable lesson for the industry, showcasing the potential of a well-executed theatrical release combined with strategic marketing efforts. The success of the movie not only generated significant profits for Universal but also raised the visibility of the franchise and its potential for future sequels or adaptations. As studios continue to navigate the evolving landscape of the entertainment industry, the example of “Five Nights at Freddy’s” demonstrates the enduring allure and profitability of theatrical releases when done right.