Paramount Pictures is the latest studio to slash the 90-day theatrical release window. ViacomCBS recently announced that the films releasing with the studio will now arrive on Paramount+ after 45 days in theatres. The studio's upcoming releases include Tom Cruise's Mission: Impossible 7 and Emily Blunt's A Quiet Place Part II.
The announcement made on Wednesday (February 24) came after other studios like Universal Pictures and Warner Bros. reached similar agreements with theatre chains in the US. Warner Bros.' Warner Media has also opted for a hybrid release for its upcoming platform HBO Max, which will stream films alongside theatrical releases.
Coming back to Paramount, the studio in 2020 had to sacrifice on theatrical releases and opted to sell films' streaming rights to services like Netflix and Amazon. While The Trial of the Chicago 7 is currently available on Netflix, Coming 2 America can be found on Amazon Prime Video.
However, upcoming releases including Mission: Impossible 7, A Quiet Place Part II, Top Gun: Maverick and others are scheduled for theatrical releases, and will premiere on Paramount+, earlier than expected.
Reports have revealed that the announcement was made as the studio is under pressure to release new content to the latest streaming platform. Similar to Netflix, Hulu, Disney+, Apple TV+ and HBO Max, Paramount+ will also have a series of acquired tiles.
Paramount has struck a deal with EPIX and will add releases from other studios to their platform as well. According to reports, new projects like Paranormal Activity reboot and a new Pet Sematary origin story is being produced to be released solely on the OTT platform.
Paramount+ is all set to be launched on March 4, 2021. It is unclear if the streaming platform will be available in India, on the same date.