06 Nov Inside Paramount’s 2020 Survival Strategy: Earn More Selling Off Films Than Releasing Them [WrapPro]
BY BEATRICE VERHOEVEN and JEREMY FUSTER
November 3, 2020 | According to analysts, the studio has earned $450 million so far this year from Q1 releases and selling titles to streamers
2020 was supposed to be a strong box office year for Paramount Pictures, but the pandemic-fueled shutdown of theaters had the studio look at different ways to succeed financially. The studio has begun offloading at least five of its films to streamers — including Aaron Sorkin’s “The Trial of the Chicago 7” — a survival strategy that seems to be paying off at a time when no studio can count on box office returns from movie theaters that remain closed or operate at limited capacity.
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