The recent announcement by the Academy of Motion Picture Arts and Sciences regarding new theatrical standards for Best Picture eligibility has sparked a heated debate in the film industry. Neon CEO, Tom Quinn, shared his surprising take on the matter during a panel discussion on box office strategies at the Zurich summit. In this article, we will delve into the different perspectives regarding the new standards and evaluate their potential impact on the industry.
Under the new rules set to take effect for the 97th Academy Awards, films vying for Best Picture consideration will need to meet expanded theatrical release eligibility criteria. This expands beyond the current requirement of a one-week release in six U.S. qualifying cities. The decision to implement these changes was driven by members of the Academy’s Producers Branch, aiming to support films intended for the big screen. However, this move may have unintended consequences for streaming platforms that often enter films with the minimum release needed to qualify.
The expanded theatrical run now entails a seven-day release, be it consecutive or non-consecutive, in at least 10 of the top 50 U.S. markets. This release must occur no later than 45 days after the initial release in 2024. For late-in-the-year films, distributors are required to submit release plans by January 24. While these changes seek to uphold the importance of the theatrical experience, some argue that streamers should have the freedom to determine their own release strategies.
Neon CEO, Tom Quinn, expressed his disagreement with the mandate to forcibly release a film across 500 screens simply to meet the Academy’s requirements. He highlighted the importance of letting streamers treat their films as they see fit, emphasizing that it is their business. Quinn’s perspective calls for streamers instead to be obligated to report box office figures for their contenders, should they choose to release them. This reporting would provide valuable context for voter consideration and weigh into the overall impact of a Best Picture winner.
Quinn believes that imposing strict mandates does not effectively serve the purpose of supporting films or enhancing the overall viewing experience. Allowing streamers the autonomy to devise their own release strategies presents an opportunity for more diverse and innovative approaches to distribution.
During the panel discussion, Tom Quinn took a moment to reflect on the recent Best Picture win of Apple’s film Coda. He suggested that the film could have achieved even greater success if given a wide release in cinemas. Quinn believes that Coda would have served as compelling counterprogramming during the summer season and could have had a significant crossover appeal. Despite his preference for wider releases, Quinn recognized the significance of Coda’s representation of deaf individuals and applauded the film for breaking new ground.
In advocating for streamers to report box office figures for their contenders, Tom Quinn highlights the importance of the financial performance of a film in the overall perception and consideration for Best Picture. He argues that a film’s financial success, in addition to its artistic merits, holds weight in the minds of voters. By reporting these figures, streamers can provide a clearer picture of a film’s commercial viability and impact.
The debate surrounding the new theatrical standards for Best Picture eligibility has brought to light the differing viewpoints within the film industry. While some argue for autonomy in release strategies for streamers, others emphasize the importance of upholding the theatrical experience. Finding a balance between these perspectives is crucial to ensure the continued success and relevance of the film industry. Future discussions and considerations will shape the direction of the industry, ultimately determining how films are released, recognized, and celebrated.