Production halted for months led to fewer releases on the schedule.
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Michael O’Leary, president and CEO of NATO (National Association of Theatre Owners) and Charles RivkinCourtesy/Getty Images
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The interviews were edited and condensed for clarity.
Of every aspect of the filmed entertainment industry.
Theres kind of a sorting out going on.
And I think that everybodys trying to figure out what is the best way to move forward.
A lot of the conversations youre hearing about mergers and things are a part of that process.
Im a big believer in the marketplace.
And if you dont, theres another set of adjustments and you just keep moving.
There are different dynamics at play on the studio side versus the exhibition side, obviously.
DEADLINE:But do you see a contraction coming?
Releases are down versus pre-pandemic.
Studio parents are cutting costs.
OLEARY:Theres been contraction and expansion throughout the history of our industry.
The focus tends to be on the contraction piece.
I think the fundamental that we care about, consumer demand, is strong.
The support were getting from the studio community in terms of producing movies is very strong.
Obviously, the strike was a setback with production stoppage.
But that didnt signal a complete change in course, it was just a little bit of a roadblock.
Some people would have you think its a bigger impediment than it is.
Its something that not only will we overcome, its something that were starting to overcome.
Well look at it in December of 2024.
It happened right on the heels of Barbenheimer [which exploded].
Then it kind of went silent.
CHARLIE RIVKIN:Im optimistic.
Its heading in the right direction.
We cant deny the Covid gut punch, or the strikes that made it very difficult for studios.
But were going to get there.
Not this year, but maybe by next year we can be at a pre- pandemic level.
Already youre seeing some fantastic movies coming out.
And I think what youre going to see at CinemaCon is a great slate.
Thats just the beginning.
So why wouldnt you feel optimistic and confident?
Our conversations with Apple and Amazon have all been very positive.
Theyve signaled their commitment to putting films into the theater.
Were excited that they recognize the art form that is a movie on the big screen.
Theyre interested in really compelling stories.
And I think thats a positive thing.
Were trying to appeal to a very broad cross section of people all around the world.
And, of course, the legacy studios [do].
Apple and Amazon have had great success withKillers Of The Flower Moon,American Fictionand others.
Im pretty sure theyre going to continue to support exhibition.
DEADLINE:Will Apple and Amazon be joining the MPA?
Because they certainly have a lot in common with our existing members.
But thats not something Im ready to announce today.
Youre planning a push on Capitol Hill for whats called judicial site blocking what is it?
It just makes sense.
And theres a direct impact on the box office.
When people arent stealing from our studios, they may end up going to movie theaters.
Ill talk in more detail about that on Tuesday.
But it has a direct impact on whether people see things at the box office.
Its going to be a big legislative priority for me and my team.
DEADLINE:That kind of legislation has been really difficult.
RIVKIN:I cant tell you whether its going to happen.
DEADLINE:Michael, wanted to ask about indie films, which are having a tough time.
What is exhibitions commitment to them?
OLEARY:Thats a critically important piece of the puzzle.
Its something Im going to talk about.
The industry needs to have a strong slate of smaller-budgeted and medium-sized movies.
Theres an audience for those.
Those arent just critical darlings, those are films that people like to go and see.
The moviegoing experience can be about multiple things at the same time.
Some did really, really well.
A lot of them were nominated for Best Picture.
There were some really, really terrific films.
And that is a result that we should not allow to happen.
DEADLINE:What are you thinking about here?
OLEARY:Are we marketing them in the correct way?
Are we giving them enough of a footprint that they can succeed in the marketplace?
Are we ignoring audiences that might be interested in these types of movies?
Or what should we try that we havent tried before?
I think its a constant process of evaluation.
And the consumers are evolving.
People want compelling and interesting stories, and theyll show up for those if they know theyre there.
That model applies across the ecosystem of movies from the biggest to the smallest.
DEADLINE:You said youd recently visited a theater with a restaurant, bar, bowling alley and arcade.
What does that signify?
We are a consumer facing industry.
Having said all of that, you know, these are capital intensive projects.
So the access to more capital is definitely something thats important.
The cost of money right now is fairly high.
And its challenging, but we have to keep upping our game and getting smarter and better.
DEADLINE:What about windows, still in flux?
OLEARY:I think the marketplace is kind of setting the windows right now.
And I dont know what that number is exactly.
But I think thats what ultimately happens.
And I think that is where the market is gravitating.
