HBO has been aggressively growing its collection of IP-related shows such as IT: Welcome To Derry and DC Studios.
Casey Bloys, Chairman and CEO, HBO and Max Content, said that this move helps fill a “void” left by a dwindling number of movie output deals that the company is able to strike as rivals increasingly keep their feature titles for their own streaming services.
HBO previously had deals with the likes of Universal Pictures, which now streams its titles on Comcast’s own Peacock service as well as others.
Bloys addressed the strategy at a press presentation in New York.
“We are also leaning into the power of IP to help fill a void,” he said. “In the past, HBO has always had the benefit of multiple studio output deals with a movie guaranteed every Saturday night. This proved extremely impactful with subscribers. Massive Hollywood marketing campaigns brought huge awareness to these titles. So, they became big engagement drivers for us. But as you are all probably aware, most studios are now holding onto these films for their own platforms.”
This leaves HBO with titles from Warner Bros.’ own movie library as well as a pay 1 deal with A24. “While we still have the benefit of the amazing Warner Brothers in A 24 slates, which gives us an extraordinary collection of films. It is nowhere near the same volume that we once had,” he added.
In order to address this “shortage”, Bloys said it would turn to “highly recognized” projects from the DC Universe, Stephen King’s IT: Welcome to Derry, Game of Thrones spinoffs and Harry Potter.
“That affinity and immediate awareness paired with HBO’s singular approach to storytelling has proven very valuable to filling that theatrical void. So, in considering the alchemy of strong HBO programming coupled with Max Originals that increase engagement and beloved Warner Brothers IP that drives attention, you see a recipe that’s led to great success for us over the last year or so,” he added.
