Skip to main content

Market Overview

Christopher Nolan Criticizes HBO Max As 'Worst Streaming Service'

Share:
Christopher Nolan Criticizes HBO Max As 'Worst Streaming Service'

AT&T Inc (NYSE: T)-backed Warner Bros.' decision to simultaneously stream its films in 2021 on its HBO Max platform along with theatrical releases is facing a backlash from artists.

One of the major Hollywood directors, Christopher Nolan, criticized Warner Bro.’s move in a statement to Hollywood Reporter and called HBO Max the ’worst streaming service.’

What Happened: According to Bloomberg, Nolan’s latest film, “Tenet,” just made $57.6 million at the U.S. box-office, and it is seen as a factor behind Warner Bros.’s decision. The straight-to-streaming plan will affect the earnings of 2021 big-budget movies like “Dune,” “The Matrix 4,” “The Suicide Squad” and “Space Jam: A New Legacy.”

Nolan has a long relationship with Warner Bros., with popular movies such as “Dunkirk,” “Interstellar” and “Inception,” and the Batman trilogy series. He expressed disappointment with the studio’s move and said that the works of top filmmakers and stars are “being used as a loss leader for the streaming service” without any consultation. It’s a “real bait and switch,” he added.

Directing his anger at Warner Bros., Nolan said, “Some of our industry’s biggest filmmakers and most important movie stars went to bed the night before thinking they were working for the greatest movie studio and woke up to find out they were working for the worst streaming service.” According to Nolan, Warner Bros. is dismantling creators’ work, and it doesn’t understand what it’s losing. 

Why It Matters: HBO Max launched in May, and it faces intense competition in the streaming arena from established players like Netflix Inc (NASDAQ: NFLX), Amazon.com, Inc’s (NASDAQ: AMZN) Prime Video, and the latest entrant Walt Disney Co’s (NYSE: DIS) Disney+.

Warner Bro.’s move has seen a measure to kickstart user growth and gain market share as HBO Max users will be able to stream big-budget movies at no additional cost.

Price Action: AT&T shares closed 0.34% higher at $29.64 on Monday.

See Also: Analyst Predicts How Disney May Respond To Time Warner's Direct-To-Streaming 2021 Movie Schedule

Image Courtesy: Wikimedia

 

Related Articles (T)

View Comments and Join the Discussion!

Posted-In: Bloomberg Christopher Nolan HBO Max Hollywood movie theatersNews Top Stories Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com