A joint venture between Warner Bros. Pictures and HBO Max has been announced. This venture will be a new film division focusing on producing eight to 10 yearly movies with mid-budgets. The movies will be launched on HBO’s upcoming streaming service.
The division, labeled Warner Max, is going to act as a collaboration between the two as they pile resources from both companies. This includes original projects as well as acquisitions they’ve procured over the years.
Many of its execs will put in extra effort as they lead the new division. HBO Max’s Kevin Reilly and Warner Bros. Pictures Group’s Toby Emmerich greenlight films. Meanwhile, Warner Max will be overseen by Warner Bros. chairman-CEO Ann Sarnoff beside WarnerMedia’s Robert Greenblatt. Carolyn Blackwood and Sarah Aubrey are going to be a part of the executive work, too.
Reportedly, movie budgets are going to average out to $25 million. It isn’t clear when the movies will begin showing up on the service, only that will be sometime this year. Warner Bros. will also take on the task of distributing the movies across other media.
This new venture isn’t going to cause any trouble with Warner’s current dealings. These deals being with New Line who are tasked at creating theatrical releases.
In a statement, Reilly expressed that they’ll have quality films, including a “robust” collection from Warner’s library alongside originals.
“We are going to deliver a collaborative and lean process for talent, make a range of quality films, and provide a platform for each of them to have cultural impact. Now, HBO Max will be home to a robust collection of the legendary Warner Bros. film library and a new slate of original Warner Max films.”
Blackwood took it a step further, claiming HBO Max will be a competitive player in the quickly rising streaming market from its launch day this May. It’s pretty clear companies are seeing the value in streaming, leading to a ton of companies seeking to get its own chunk of the space alongside Netflix and Hulu. Disney recently dove head-first with its ever-improving Disney+. We also have NBCUniversal’s Peacock and mobile-first Quibi to look forward to.
HBO Max is set to launch sometime this May.