RDI - What's ahead for movie industry after Warner's streaming-release shockwave?

The pandemic-era decision by Warner Bros. (T) to send all 17 of its 2021 movies to streaming on the same day as theatrical release is sending a shock throughout the movie industry - with theater stocks sliding on the news (but Warner parent AT&T surprisingly sanguine). Warner has painted the move as a one-year response to the pandemic, but with the exhibition industry struggling on tight liquidity even early in the pandemic, the question is whether a permanent change in consumer behavior is ahead: Once the theatrical release window is smashed, can it possibly be put back together in 2022? “No one wants films back on the big screen more than we do," says WarnerMedia's Ann Sarnoff. "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."

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What's ahead for movie industry after Warner's streaming-release shockwave?