The AT&T Warner Brothers HBO Max Thing is Suuuuuper Interesting: A Thread

Background: AT&T announced that all Warner blockbusters for 2021 will get day and date release on HBO Max, even (apparently) if theaters open up again. This includes Wonder Woman 1984, the Dune reboot, and the fourth Matrix.

What happened next was basically a rebellion, led by big directors, big actors, the big agencies and the big unions. The reason, of course, is the AT&T decision might cost them all big money.

A massive chunk of big talent compensation is dependent on box office receipts. Gross points and box office bonuses are part of the compensation package for big actors and big directors. It's a big part of their deals.

What happens when there's no box office? Take a wild guess. These are tentpole releases. High risk, high reward. The actors, directors and agents are going to take a big hit relative to their expectations.