It is no secret that Tenet did not earn as much money at the cash registers as he was released worldwide under normal circumstances. Instead, Christopher Nolan plunged into theaters in the midst of a global pandemic, while many theaters around the world, especially in the United States, remained closed. It’s not the ideal script for a big-budget Hollywood movie if it’s feasible, but Ann Sarnoff, CEO of Warner Bros. supports the studio’s decision to release Tenet when they do.
WB CEO Sarnoff joined Variety to talk about the film industry when the same studio had a difficult decision to make and Wonder Woman was on the horizon in 1984.
We are very happy with Tenet’s results, Sarnoff says. A few things: We knew it would outperform the index on international markets. Christopher Nolan of course has big fans in the United States, but his other films are more indexed on the international markets. If you remember correctly, the international markets were more open in June, July and August. We had an incredible movie, I don’t know if you saw it, that really deserved to be seen on the big screen.
The full video can be tweeted in the diversity section below.
The president of Warner Bros. and Ann Sarnoff say she doesn’t regret the theatrical release of #Tenet: We are very pleased with the results… We knew it would be a re-index | Variety #Power of Women in International Markets : Presented by @lifetimetv pic.twitter.com/bPwZEkPJQA
– Note (@ rank) 28. October 2020
We could sit and wait or we could take him to the site and to the theatres, which were open and of course socially isolated, Sarnoff explains. Because there weren’t that many films, the theatres were willing to work with us. If it was a third of the power in a certain theatre, they would give us three times as much power to be effective with the same power. So we’re approaching 350 million dollars in the greenhouse, which is very good in case of a pandemic. Over $50 million in the United States, the rest internationally.
After considering the options, Warner Brothers has decided to launch a new major film, one of the advantages of which is that the next titles are not in competition.
What we also did differently is that we decided not to do it because of the big, bright opening weekend, Sarnoff says. In the United States, only about 75% of the markets were open at the end of August, so there’s no point in spending all your marketing money in advance if you can’t go to the movies. We decided to call it a marathon instead of a sprint. We arranged our marketing dollars so that the urine doesn’t have the same barriers and expectations as when we had pre-CVID.
Sarnoff is optimistic about the future when it comes to extra income for the box offices of Tenet and other films in distribution. We’ve just received the good news that the state of New York is opening this week. The areas of Los Angeles surrounding the city are opening up. We’re circling some kind of L.A. hoping it will open soon, just like San Francisco, Sarnoff adds. I think there’s a lot more to say, but we’re very excited. The cinemas were of course very grateful for this great film and its fresh content.