Not yet, but it will be, and that's where studios are starting to expect much of their profit. In the past, a film's theatrical run generated the majority of its revenue, with rentals and home video purchases padding those profits down the road. Now the theatrical run is bringing in far less, and studios are allowing films to be streamed sooner-- sometimes simultaneously-- and profiting from that.
So when a film that a few years ago may have opened to $100-200 million only brings in $44 million in its first weekend, studios may still green light a sequel because that same film will bring in another $150 million in streaming revenue.
A good example of this is "Black Widow," which made $80 million in its opening weekend. Pre-covid, that film would certainly have made over $100 million domestically, and over $200 million globally in its opening weekend. "Black Widow" ended up making $184 million domestically, and $380 million globally at the box office, and tacked on another $125 million from paid streaming on Disney+.
On one hand, $525 million is less than the film would likely have made in pre-covid times, but that $125 million is all profit for Disney, while a percentage of the $380 million goes to theaters.
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