Marketing Chiefs Say Film and TV Biz Will Hang Tough Amid Recession Fears: ‘We Are the Affordable Pastime’

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If the recent economic turmoil potentially triggers a full-blown recession in the U.S., executives in charge of studio and streaming marketing believe that Hollywood will weather these challenges effectively.

On Thursday, six top executives from the film and television industry shared insights at the EbMaster Entertainment Marketing Summit, organized by Deloitte. They spoke about one of the key topics they discussed: the evolution of managing films post-theatrical release. Now that major studios like Disney and Universal Pictures have output deals with streaming platforms such as Hulu and Peacock, respectively, they’ve found that this has positively impacted the way they handle films. The panelists delved into the nuances of campaigning for awards, the challenges in reaching Gen Z audiences, and how promoting blockbusters and franchises requires constant attention throughout the year to keep fans excited and intrigued.

In terms of our business climate, I’ve found that our industry has shown resilience throughout tough periods, leveraging a significant advantage in the process.

In our line of work, we strive to maintain a business resistant to economic downturns. We offer an inexpensive leisure activity. Even if you reduce your travel plans or delay major purchases, what we provide is within your budget,” explained Dwight Caines, the president of domestic marketing for Universal Pictures. “Our aim is to offer an effortless escape that people can easily indulge in, and we hope this becomes a regular habit for them.

Christian Parkes, the marketing head at independent distributor Neon (known for Oscar winners like “Anora” and “Parasite”), stated that the initial gloomy outlook for the box office has been cleared away as studios have shown their ability to effectively target specific fan groups and demographics, thereby encouraging audiences to visit movie theaters.

Parkes acknowledged a challenging first quarter, but highlighted the success of ‘Minecraft’ and ‘Sinners,’ two recent Warner Bros. films. He praised the studio’s marketing executives for leading effective launch campaigns. According to him, they connected with the audiences by comprehending them, identifying them, and communicating in a way that stirred excitement.

JP Richards, head of global marketing at Lionsgate Motion Picture Group, stated that it’s crucial for marketers to adapt to engaging Gen Z consumers differently than any previous generation. He explained, “Generally speaking, this is a group, aged 12 to 27, who have grown up during the most turbulent period in history.” Richards continued, “They crave genuine connections, yet they often find these connections in social media platforms, but not always in authentic ways. Therefore, we must handle our approach with sensitivity.

Martha Morrison, Vice President of Marketing at Walt Disney Studios, stated that the family movie-going experience has made a significant recovery for popular films, as people are eagerly seeking it out and wanting to enjoy it with their children. She added that there’s excitement among audiences to return to cinemas, which was evident during ‘Mufasa’s’ release over Christmas, and continued throughout the holiday season, with Christmas being one of Disney’s busiest days.

Conversely, the growth of pay-per-view windows in streaming has been a significant advantage for niche labels like Searchlight Pictures. Rebecca Kearey, head of international marketing and distribution at Searchlight Pictures, stated that their studio has benefited from being integrated with the Disney+ and Hulu platform.

Kearey stated that we’ve acquired an unprecedented connection in our business. Previously, our arrangement was with HBO, which was excellent and collaborative. However, the ability to casually stroll into someone’s office and discuss ideas instantly is something unique. With Searchlight having a presence on Hulu, the experience has been extraordinary.

Jennifer Storms, the Chief Marketing Officer at NBCUniversal Television and Streaming, stated that Peacock serves a comparable function for Universal Pictures and other content labels under NBCU.

Since March, you can stream the highly-anticipated musical film “Wicked” from Universal Pictures on Peacock’s premium service. Alongside the movie, there’s a wealth of additional content and bonus features to enjoy. NBCUniversal took a significant risk with this project, so they pulled out all the stops using their Symphony marketing team to ensure maximum promotion at its November release. Directed by Jon M. Chu and starring Cynthia Erivo and Ariana Grande, “Wicked” has already garnered 800 million minutes of view time on Peacock as per Storm’s report.

Storms stated, “We plan to return the favor by using the self-perpetuating cycle,” explaining that ‘Wicked’ has been Peacock’s top movie in the pay-one window since their deal with their sister studio in 2023. “As the trailer for ‘Wicked: For Good’ is released, we will offer a fresh platform for it, and then we aim to keep the momentum going by maintaining this cycle.

Storms highlighted that Symphony’s success can be attributed to NBCU creating an environment that fosters collaboration. They’ve put this concept into practice, which is challenging, and it has taken approximately a decade to achieve. Instead of functioning as separate businesses, we prioritize lifting each other up to raise the whole entity because we firmly believe that the total is greater than its individual parts.

Or, more concisely:

Storms pointed out that Symphony’s success is due to NBCU cultivating a collaborative culture and implementing it effectively over ten years. This means working together to help each other succeed, as we believe the combined strength surpasses the individual.

Caines agreed. Despite ‘Wicked’, the musical having been a well-established production after over two decades on Broadway, Universal recognized that theater enthusiasts alone wouldn’t generate enough revenue to recoup the substantial investment they had made. This is where the comprehensive backing from Symphony across Comcast became crucial.

Caines acknowledged that our existing fan base wouldn’t be enough to meet our targets, so we had to broaden our horizons. We needed to connect with audiences who might not typically attend musicals but could identify with the movie. They saw themselves in the characters, those who have been marginalized, and they saw empowerment in one girl’s rise and the unveiling of a woman’s heart. It is during such times when entertainment is most impactful, providing an escape or a comforting embrace to people as they navigate their feelings, mirroring the mood of the country or the world.

The level of risk and expectations for marketers has escalated alongside the increased budgets and breakeven points for major studio films, known as tentpoles. In a bold move, Universal took a significant gamble with “Wicked” by filming the movie simultaneously, intending to release it in two parts over a span of two years. If the initial part had failed at the box office last November, it would have made the task for this year’s “Wicked: For Good” nearly insurmountable.

Caines stated that the movie made over $375 million, which means they can confidently say, ‘We’re in a good position for the next installment.’ If ‘Wicked’ hadn’t succeeded, things might have been different.

Morrison referred to an analogous situation with “Moana 2” (scheduled for 2024) at Disney, which was initially planned for a streaming debut. However, the impressive performance of the original 2016 movie on Disney+ led studio executives to decide that “Moana 2” would likely be more successful in cinemas instead.

As a devoted cinephile, I’ve been thrilled to witness the remarkable response ‘Moana’ has received on our streaming platform, becoming the first movie to hit a billion streams. The release of ‘Moana 2’ last November only served to amplify this success, with both the original film and related content enjoying a significant resurgence in popularity. This pattern of success is also evident with titles like ‘Inside Out’, the [‘Planet of the Apes’] series, and the ‘Aliens’ movies on Hulu. It’s clear that everyone benefits when we strike gold with a project, and having Disney+ and Hulu under our umbrella allows us to maximize these opportunities in an exceptional manner.

Kearey noted that exceptional film quality and skillful filmmakers tend to inspire marketers to deliver outstanding promotional efforts.

She expressed her gratitude for working in an artistic field, finding it profoundly inspiring. Her primary concern is always finding creative and engaging ways to present ideas. This challenge, she noted, is a constant source of motivation, fueling her passion from dawn till dusk, especially when she’s a marketer.

JP Richards, head of global marketing at Lionsgate Motion Picture Group, pondered how the role of marketers has expanded in preserving franchises like the action series starring Keanu Reeves as John Wick, as digital platforms have become more prevalent. “Ballerina,” a spinoff film featuring Ana de Armas, is scheduled for release in June, opening up additional chances to create marketing campaigns, social videos, and content tailored for fans of the John Wick films.

Five years ago, our social media approach focused primarily on promoting the film itself. However, now it’s a continuous, round-the-clock endeavor – we’re always engaged and managing our community. Plus, when we get chances to expand our universe through TV shows or more films, that just makes it even more exciting! The upcoming release of ‘Ballerina’ in six weeks is fantastic news for us, and we can’t wait. We’re also starting to share more details about ‘The Hunger Games’, such as the initial cast for the next movie following the book launch. This kind of news keeps us going!

(Shown: Matt Donnelly from EbMaster, Jennifer Storms of NBCUniversal, Dwight Caines representing Universal Pictures, Christian Parkes at Neon, Martha Morrison with Walt Disney Studios, Rebecca Kearey from Searchlight Pictures, and JP Richards of Lionsgate)

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2025-04-25 08:18