Warner Bros.’ 2021 Films Will Be Released in Theaters, HBO Max Simultaneously

Warner Bros. will be streaming all its 2021 theatrical releases on HBO Max in a blow to already struggling theater chains as the pandemic continues to reshape Hollywood.

The AT&T-owned studio's 17-film slate, including "Godzilla vs. Kong," "Mortal Kombat," "The Suicide Squad" and "Matrix 4," will be available on the streaming platform exclusively for one month, starting when they are released in theaters and then will disappear from the platform.The move comes shortly after the company announced it would bring its expected blockbuster "Wonder Woman 1984" directly to HBO Max.

"We're living in unprecedented times which call for creative solutions, including this new initiative for the Warner Bros. Pictures Group," said Ann Sarnoff, chair and CEO of WarnerMedia Studios and Networks Group, in a statement released on Thursday. "No one wants films back on the big screen more than we do. We know new content is the lifeblood of theatrical exhibition, but we have to balance this with the reality that most theaters in the U.S. will likely operate at reduced capacity throughout 2021."

Sarnoff said the model is a temporary one, but the decision will reverberate across an industry that has taken away screening exclusivity from theaters and reshaped how studios function.

"With this unique one-year plan, we can support our partners in exhibition with a steady pipeline of world-class films, while also giving moviegoers who may not have access to theaters or aren't quite ready to go back to the movies the chance to see our amazing 2021 films," Sarnoff said. "We see it as a win-win for film lovers and exhibitors."

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AT&T's decision to favor its streaming service over theaters comes in response to the pandemic, but it also aligns with CEO John Stankey's public comments that he wants to center his company's strategy around streaming. It's part of a broader blueprint meant to goose AT&T's broadband business, which led the company to acquire Time Warner in 2018 for $85 billion. Comcast, AT&T's chief broadband rival, is pursuing a similar game plan with its own streaming service, Peacock, which falls under its subsidiary NBCUniversal.

AT&T last month announced layoffs at WarnerMedia to focus the company around HBO Max. Elsewhere, Disney — which logged nearly 74 million paid subscribers to its Disney Plus streaming service last quarter — offers another example of a shift toward streaming that was already underway but which has been accelerated by the pandemic.