Cinema United Chief Michael O’Leary has sounded a warning bell for Indian film enthusiasts, stating that theaters will close if Paramount’s deal to buy Warner Bros. goes through.
The warning comes as O’Leary spends time on the road, checking in with movie theater owners as they bounce back from the COVID pandemic.
According to O’Leary, Netflix’s gamble on ‘Narnia’ has shown that big-budget films can still be successful. However, he believes that Paramount’s deal will give them too much control over the film industry and lead to the closure of theaters.
Why Theaters Will Close
O’Leary’s argument is that with Paramount owning Warner Bros., they will have too much control over what films are made and released. This will lead to a decrease in diversity and increase in costs, making it difficult for small theaters to survive.
In contrast, he believes that the current market, where multiple studios are competing with each other, is what keeps the film industry healthy and diverse.
What This Means for Indians
This deal has significant implications for Indian film enthusiasts. If theaters close, it will not only affect the film industry but also the livelihoods of thousands of people employed in the sector.
O’Leary’s warning is a timely reminder of the importance of preserving the diversity of the film industry and supporting local theaters.
The future of cinema hangs in the balance, and it’s up to Indian film enthusiasts to ensure that theaters continue to thrive.