However, while acknowledging these disappointments, there have been some interesting consequences stemming from the HBO streaming deal. It flopped at the box office, but clean rips of The Matrix Resurrections are more popular on torrent sites than shaky recordings of Spider-Man: No Way Home. Releasing easily ripped versions of films overlapping with theatrical releases might not be the best strategy. James Wan’s Malignant failed to find an audience in both theaters and streaming. Many also struggled to gain traction on HBO Max. Many of the movies underperformed in theaters, including well-reviewed films like The Suicide Squad and King Richard. While the decision undoubtedly contributed to HBO and HBO Max’s combined 12.5 million growth in subscribers in 2021, that is still a significantly slower increase than the 60% growth of Disney+ subscribers between November 2020 and November 2021, or Netflix’s growth from 195 million subscribers in Q3 2020 to 214 million subscribers in Q3 2021.

It didn’t quite turn HBO Max into a streaming powerhouse. It seems safe to acknowledge that the deal didn’t work out exactly as AT&T planned. The angrier voices branded the company “ Former Bros.” Christopher Nolan described HBO Max as “ the worst streaming service.” Denis Villeneuve described the decision as one that demonstrated “complete disregard” for the company’s history as “ a legacy home for filmmakers.” Many filmmakers only found out that their movies were going straight to streaming with the public announcement. The plan was heavily criticized at the time, by both insiders and outsiders. The move was hugely controversial and divisive, even within the context of a tumultuous time for Hollywood studios.

The plan was to simultaneously release the company’s slate of blockbusters in theaters and on HBO Max as a way of growing the streaming platform’s membership to help it better compete with other platforms like Disney+ or Netflix. owners AT&T and WarnerMedia CEO Jason Kilar. “ Project Popcorn” was, by all accounts, masterminded by Warner Bros. The results have been interesting, to say the least.

With the release of The Matrix Resurrections, Warner Bros.’ HBO Max blockbuster experiment is complete.

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