Sony Pictures Classics Co-Boss Shared Thoughts on the Paramount-Warner Bros Merger at Cannes
Cannes Film Festival: Sony Pictures Classics Leaders Discuss Arthouse Future
During a discussion at the Cannes Film Festival’s Marché du Film on Monday, Tom Bernard and Michael Barker, co-presidents and co-founders of Sony Pictures Classics, weighed in on the potential effects of the recent Paramount-Warner Bros merger on the arthouse film sector.
“I think there’s going to be room for us,” Bernard stated, reflecting on the evolving landscape of film production. He emphasized the challenges of consistently delivering commercial hits, pointing out that Paramount had initially promised a slate of 15 films. Since the merger announcement, Paramount’s CEO, David Ellison, has adjusted that projection to a commitment of 30 feature films annually.
Bernard noted the shifting dynamics within the industry: “Even if you look at Amazon right now, they have three types of movies they make in dollar amounts. I think there’s going to be more movies falling back to the days like the ‘70s where there’s going to be new ideas and cultural stuff.”
Bernard expressed optimism regarding the film industry’s trajectory, particularly following Paramount’s continued production commitment in New Jersey. Living in the state, Bernard has played a role in shaping the local tax rebate program. He highlighted recent developments, including Netflix’s plan to establish an $848 million studio and Paramount’s 10-year lease at the 1888 Studios campus in Bayonne. “There’s big change happening, and it’s all for the good,” he added.
The conversation also touched on changes in audience behavior, with Barker pointing out that specialty films are witnessing a shift in attendance patterns. “There are trends with these audiences going to the multiplex that are different from the past. And the AMCs are recognizing this. On a specialized film, the Monday through Thursday gross could be as high as the weekend gross. That’s never happened before,” he explained. Barker noted that theater chains are concerned about filling seats on weekdays and are experimenting with promotions, such as discounts for seniors on certain days.
Bernard believes that theaters can do more to engage arthouse moviegoers. He noted the growing popularity of loyalty member clubs and the potential for targeted email campaigns: “They haven’t decided to send a note about a movie you might like on Friday.”
He expressed concern over the decline of traditional newspaper listings, which previously guided audiences to showings. “When the newspapers went away, everything was total confusion,” Bernard said. “But when you want to find out what’s playing, you have to go to work; it’s not coming to you.” He urged theaters to leverage existing data to better connect with audiences, stating, “They haven’t really embraced their data; they have information on all of you to go to the theater.”
