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Trump says he's called off plans for "scheduled attack of Iran" after request from Gulf partners
Whoa! Netflix is Sending Narnia Heading to Theaters...What This Means for the Future of Film
(Welcome to the “Most Important Story of the Week”, my bi-weekly strategy column analyzing the most important (but often not buzziest) news story of the last two weeks. I’m the Entertainment Strategy Guy, a former streaming executive who now analyzes business strategy in the entertainment industry. Please subscribe.) Here’s a funny thing about the debate over whether streamers should release their movies in theaters first: Both sides think the other side represents the “conventional wisdom”. If you’ve been reading me for any amount of time, or even just scanned my front page, you know I think movies make more money by having a robust theatrical window compared to going straight-to-streaming. I’ve published thousands of words on this topic. And for years, I felt like I was standing up to a wave of opposition. See, while the “put your films in theaters to make money” take was obvious at any point before 2019, post-streaming revolution, most of the trendy thinkers took the opposite point of view. Big names argued that Netflix putting their film straight-to-streaming (“S-to-S” from here on out) actually made more money. Netflix was “disrupting” theaters, just as they disrupted Blockbuster Video, and since innovation is always good, this too was a great idea. This thinking then leaked into the mainstream business outlets like the Wall Street Journal and Bloomberg. I read many articles whose take boiled down to “Netflix makes tons of money from S-to-S releases” and “theaters were in structural decline” anyways. Covid-19 shutting down theaters and the 2023 strikes shutting down film production seemingly justified this point of view, as the box office struggled to return to 2017-2019 heights. Yet I’ve also read folks arguing the opposite point: the conventional wisdom says to put films in theaters! From some writers’ points of view, “everyone” actually agrees/agreed with my “send your films to theaters” take—especially the stodgy traditional studios—and folks still didn’t understand Netflix’s genius. I feel like, for the last two years, many people have argued this point as if it’s conventional wisdom. You know what? I may have been wrong. At this point, the “S-to-S strategy makes money” might be the minority viewpoint. Especially with the news this month that Netflix will put at least one film—Greta Gerwig’s Narnia film The Magician’s Nephew—in theaters in 2027 for a full 49-day run is big news. So that’s the story of the week, but I’ll also explain why they’re making this move now and why Netflix may not completely embrace theaters, along with other topics, like how I don’t buy Disney’s “super app” strategy, the latest good news out of the unions, my take on the latest attacks against free speech, and a whole lot more. Let’s get started. Subscribe Most Important Story of the Week - Netflix Goes to Theaters! Listen, I promise not to victory lap too hard today. As I just wrote, I’ve argued against sending films straight-to-streaming for—checks calendar—eight years now. Since 2018. Yikes. That’s a long time. And for years, others painted my thinking as “conventional” in that I was standing up for the status quo against trendy, cool disruption. And that’s not cool! But math is math, and I never could make the S-to-S numbers work. The only thing that ever enabled that model was Wall Street’s brief exuberance for it. It seems like the heads of Netflix now agree with me. (There were always rumors that former head of film for Netflix Scott Stuber argued internally for theatrical releases as well.) As they announced: “The Magician’s Nephew_—the first film in a Narnia series of films—will open on 12-Feb-2027, with a 49 day theatrical exclusive run.”_ I’m a little surprised at how little coverage this big change actually got. Credit to Bloomberg for leading with it and Matt Belloni’s The Town for highlighting it with the provocatively titled podcast “Hell Hath Frozen Over”. But after that? Instead of getting as much coverage as, say, the FCC’s latest egregious crackdown on free speech, this news story got crickets. But it’s massively more important for the future business of entertainment. So let’s start with the obvious question… Why Put Your Movies in Theaters? So…why should Netflix put (some!) of their movies in theaters? Well, I’ve already written that in a very, very, very long article from 2022: [ ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) [ The Data Is In: Theatrical Films Massively Outperform Straight-To-Streaming Films ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) Entertainment Strategy Guy · April 5, 2023 [ Read full story ](https://entertainment.substack.com/p/the-data-is-in-theatrical-films-massively) To summarize, theatrical runs make much more money, especially blockbusters, because they earn more money per viewing,1 and that helps boost home entertainment sales. Theatrical films also perform as well or better than the streaming-only films. Now, partially this is driven by increased marketing for said films, but said marketing ultimately boosts the awareness of the movies and drives improved streaming and library performance as well. Again, I’ve made this case after reviewing the economic models and streaming data for years. Just last week, Emily Horgan also made the case for kids films! Yes, it is probably conventional wisdom, but that’s also because it’s true! I’d also argue we’ve seen a lot of data in the various studios’ behavior. As I’ve noted before, the more a studio needs to make money, the likelier they are to put films in theaters. As such, Disney, Universal, Warner Bros., Paramount and Sony all send their major films to theaters. Even if they once made a big S-to-S push (*cough* Disney *cough*), they’ve since relented and returned to theaters. The tech companies don’t need to make money, per se, so it took them years to embrace theaters. Apple doesn’t need to make money because it doesn’t disclose their (likely) Quibi-sized losses each year. (They fear bad press more than losing money.) Amazon announced two years ago that they planned to make Amazon-MGM Studios/Prime Video profitable on its own, and guess what? Now they’re putting films in theaters. That leaves Netflix. They’re in between the “no need to make money at all” and the “desperately need to make money to offset linear TV declines”, so they had less pressure to put some films in theaters. Plus, for years, they were the sexy disruptor, and Wall Street rewarded them for that. (Honestly, they still do.) Yet, even Netflix likely saw the money they were leaving on the table (I’ve estimated it at an easy billion dollars before) so they changed their course. I heard one pundit argue that, because Netflix already makes so much money, they don’t need to make more money, which sort of goes against everything I’ve ever learned about business and economics. Again, to be super-nuanced, sending “films to theaters” does not mean EVERY film. TV movies have been a thing for decades. Lifetime films, Hallmark holiday films, Disney Channel Original Movies, and so on, don’t need theatrical runs. But films above a certain budget level (say $25 to 50 million) almost certainly need theaters to maximize their revenue. The Scenarios (with a Dose of Skepticism) Now time for some skepticism: it won’t surprise me at all if Netflix re-changes course. Specifically, Netflix announced that their Narnia film will go to theaters. And I’d bet anything we see KPop Demon Hunters 2: The Huntering2 also goes to theaters, cause it’s the surest hit outside of a Disney animated sequel right now. But how much does Netflix truly commit to theaters? They’ve already tried to emphasize that this is a one-off move. I see three broad scenarios:
Rory McIlroy, Shane Lowry Both Whine About PGA Championship Setup
Rory McIlroy and Shane Lowry were both unhappy with the conditions at the 2026 PGA Championship. McIlroy, who has won back-to-back Masters championships, sounded off on the conditions at the Pennsylvania course over the weekend. "I think a bunched leaderboard like this, I think it's a sign of a ...
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409 Media Mixer returns Saturday with free networking, panels for entertainment pros
DuPage County reports first mosquitoes carrying West Nile virus for 2026
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Slumping Austin FC fires coach, sporting director before World Cup break
Slumping Austin FC fired head coach Nico Estévez and sporting director Rodolfo Borrell on Monday as the team sits near the bottom of the MLS standings just one season after returning to the playoffs.
Apple Announces WWDC 2026 Schedule, Sends Media Invites
Apple today provided a schedule for its 2026 Worldwide Developers Conference, which starts on June 8 and ends on June 12. Apple also sent out invites to members of the media who have been invited to attend an in-person keynote viewing at Apple Park. Both the invites and schedule confirm that the keynote will begin at the standard time, 10:00 a.m. Pacific Time or 1:00 p.m Eastern Time.
Training Naturalists Behind Prison Walls
A kestrel swoops to grab a smaller bird on the wing and eats it, right in front of a group of men in the garden at California Health Care Facility, or CHCF, a prison in Stockton, where the garden has become both a thriving ecosystem and a science classroom for people incarcerated there. As the feathers fly, UC Davis researcher Laci Gerhart pulls out a bird guide and shows the incarcerated men how to identify the bird by its size and coloration, noting that kestrels are North America’s smallest raptor and one of the few that are sexually dimorphic.
Austin FC fires coach Nico Estevez, sporting director Rodolfo Borrell
Austin FC fired both manager Nico Estevez and sporting director Rodolfo Borrell after the team's struggles came to a head in a 2-1 loss to Sporting Kansas City.
Austin FC fires sporting director Rodolfo Borrell, head coach Nico Estevez
Precourt fired sporting director Rodolfo Borrell and head coach Nico Estevez, he announced Monday. Davy Arnaud will take over as the interim head coach, and the search to fill both positions will b…
Aaron Rodgers returns: Quarterback reunites with Mike McCarthy, signs with Steelers for 22nd season in NFL
With potential split from CSC on the table, college sports leaders struggling to find solutions to money problems — 'The Big Ten and SEC should break away and do their own deal'
Scientists May Have Found the Blueprint of the Human Body at the Bottom of the Ocean
Scientists discovered that the brainless sea anemone build their bodies with a technique common in bilaterians... which is what humans are.
Cavaliers vs. Knicks: Who has the edge with NBA Finals on the line? Series keys, schedule and prediction
Pete Crow-Armstrong gets into heated exchanges with fans during tense Cubs-White Sox series
Jose Mourinho: Real Madrid agree deal for ex-Man Utd boss to return as head coach on two-year deal
Axios C-Suite: What Jim learned for the week of May 16
It looks like both parties will try to redraw districts yearly instead of once a decade.
Creating What's Next: ASUN and UAC Partner to Launch Unisun Sports
The Atlantic Sun Conference (ASUN) and the United Athletic Conference (UAC) have announced the formation of Unisun Sports, a groundbreaking joint venture built to support the strategic alliance between both conferences that reflects a shared commitment to creating what’s next in collegiate athletics through strength and innovation.
Religious anti-abortion center finds opportunity in town without OB-GYNs
Are the Knicks and Cavs really the best the East has to offer to the Thunder or Spurs?
River Pig Saloon owner speaks out after violent crimes outside business: 'Frustrates me, my staff, the neighborhood, everyone'
Spurs vs. Thunder: Who wins epic West showdown with NBA Finals on the line? Series keys, schedule and prediction
'Work when nobody's looking': How Aaron Rai parlayed two gloves, iron covers and a dream into a PGA Championship
At least 6 Americans in Congo were exposed to Ebola virus, sources say
Patriots WR Kayshon Boutte isn't participating in offseason workouts
2026 Columbia Black Expo wraps with music, shopping and minority business spotlight
Shai Gilgeous-Alexander wins second straight NBA MVP award
Shai Gilgeous-Alexander's NBA MVP win is the 8th straight for international players, extending U.S. drought that dates back to 2018
Why does Amazon have no Western rivals?
The internet giant dwarfs other online retailers on both sides of the Atlantic.
Cavaliers vs. Pistons score, live updates, how to watch: James Harden, Cade Cunningham face off in Game 7
Sabres-Canadiens playoff series to be decided with Game 7 at Buffalo on Monday
Montreal and Buffalo are the two youngest teams by average age still in contention, and both relative recent playoff newcomers.
Peter G. Neumann, Who Warned of Computer Security Risks, Dies at 93
For decades, he criticized the industry’s lax attitudes toward both computer security and individual digital privacy. And he developed solutions.
Astrobiology Science Conference (AbSciCon26) Media Tips 2: Technosignatures, Life in Space, Existential Questions, Robot Explorers
The 2026 Astrobiology Science Conference hosted by the American Geophysical Union (AGU) will convene next week
'There's only two seasons: Christmas and Racing' | Indy 500 race week brings business to local Speedway shops
How a Detroit business is prepping for Game 7 between Pistons and Cavaliers
Analysis: Fulham's European hopes peter out
After beating Aston Villa at the end of April, Fulham were firmly in the mix not only for European qualification but potentially for a Champions League spot. A loss at Arsenal was not unexpected, the manner of the defeat by Bournemouth was hugely frustrating but victory at the league's bottom side would have kept Marco Silva's side in contention going into the final day. A huge swing in goal difference and the most unlikely sequence of results would now be needed for Fulham to make the top eight.
Asian Night Markets Jacksonville shares tradition, food and entertainment with First Coast
Miami mental health center moves closer to final approval 20 years after it was promised to voters
Scientists reveal the sweet spot for sleep, if you get less — or more — you're aging yourself faster
Shohei Ohtani gets 'Little League home run' with ball hit off netting at Angel Stadium in Dodgers' 15-2 win
Stress, uncertainty as economy views decline; many voice frustration with Trump's economic approach, CBS News poll finds
Open-Source "low_latency_layer" Brings Reflex & Anti-Lag 2 To AMD & Intel GPUs On Linux
A new open-source project called low_latency_layer is an implicit Vulkan layer that enables AMD Anti-Lag 2 and NVIDIA Reflex 2 to reportedly work in a hardware-agnostic manner so that AMD and Intel graphics cards can both enjoy Reflex or Anti-Lag 2 working on non-AMD graphics cards as well.
As Springfield weighs annexation request, regional behavioral health needs hang in the balance
Springfield councilors will ponder an annexation request that would set the stage for Oregon’s first behavioral health campus that has both a psychiatric hospital and stabilization center on site.
PGA Championship final round leaderboard, live updates: Can Alex Smalley fend off Jon Rahm, Rory McIlroy for first win?
‘Pressures are real’: Colleges grapple with future of Olympic sports amid football spending boom
Xabi Alonso to Chelsea: Former Real Madrid and Bayer Leverkusen coach confirmed as manager at Stamford Bridge
World Cup’s revisited: Belgium at Mexico 1970
With less than a month to go until the World Cup kicks off in North America, we are revisiting a handful of tournaments featuring both Belgium and the Netherlands. To start, we are returning to 1970, ...
China unveils a giant rideable robot straight out of sci-fi movie
A Chinese robotics company has started selling a giant pilotable robot. It costs €500,000, walks on two legs, and can also smash through walls. Welcome to the future?
WHO declares Ebola outbreak in DR Congo, Uganda a global health emergency
DR Congo accounts for all except two of the suspected cases, both of which were reported in neighbouring Uganda.
MVP MMA 1 Highlights: Mike Perry vs. Nate Diaz
"Platinum" Mike Perry made his return to mixed martial arts on Saturday, defeating Nate Diaz via corner stoppage in the second round. It was both fighters’ return to mixed martial arts. Perry last fought an MMA bout in April 2021. Diaz was last in the cage in September 2022, but they put on an ...
WHO declares global health emergency over Ebola outbreaks in Congo, Uganda with over 300 suspected cases and 88 deaths
A Look At Brookfield Business Partners (BBU) Valuation After Softer First Quarter 2026 Results
Brookfield Business Partners (BBU) is in focus after Brookfield Business Corporation reported first quarter 2026 results, showing sales of US$6,436 million and net income of US$40 million, both lower than in the same period a year earlier. See our latest analysis for Brookfield Business Partners. The recent 1-day share price decline of 2.09% to US$31.46 and a 30-day share price return down 9.21%, alongside a year to date share price return down 12.20%, contrasts with a 1-year total...
Congo Ebola outbreak declared a public health emergency of 'international concern'
Congo Ebola outbreak declared a public health emergency of 'international concern'
Congo Ebola outbreak declared a public health emergency of 'international concern'
Kennesaw State to launch bachelor of science in fintech
Kennesaw State University will be the first Georgia institution to offer both undergraduate and graduate degrees in the fintech field with approval of a new bachelor of science in financial