This week’s CinemaCon in Las Vegas was once again dominated by frustration over shortened theatrical windows. Many exhibitors, led by Cinema United chief Michael O’Leary, called for a return to standardized 45-day exclusive runs before films migrate to digital platforms. But despite these calls, the current theatrical landscape paints a different picture—one that suggests the window debate may be a distraction from more productive conversations.
Theatrical performance remains volatile. The top 10 films of early 2025 fell an average of 59% in their second weekends, and by week four, most had lost over 85% of their momentum. Disney’s new “Captain America” installment and Universal’s animated “Dog Man” both fell short of expectations, while high-profile titles like “Snow White” have severely underperformed, making it unlikely they’ll recoup their budgets. Warner Bros.’ sci-fi gamble “Mickey 17” has struggled to draw audiences, earning less than half its production cost domestically before heading to digital just a month after release.
As studios pivot more aggressively to hybrid release models, digital platforms are no longer treated as a fallback—they are essential to recouping production costs. Universal’s “Wicked” made headlines for bringing in $100 million on PVOD, adding to its nearly $475 million domestic theatrical haul. For studios under pressure to manage risk, these quick digital turnarounds are less a threat to theaters and more a necessity for survival.
Rather than pushing studios to commit to longer theatrical windows—an increasingly unrealistic demand in today’s market—cinemas may need to focus on how they can adapt and evolve. One clear path forward is to broaden the scope of content offered on the big screen. Independent studios and international distributors, many of whom are more flexible with windowing and open to collaborative partnerships, represent an untapped well of opportunity. These partners often offer niche but high-quality content that can resonate with audiences tired of franchise fatigue.
At the same time, exhibitors can benefit from building direct relationships with creator-led platforms and emerging media ventures that are bypassing traditional studio gatekeepers altogether. Innovative services like Galxy TV, for instance, are giving creators control over distribution and monetization—models that could align well with theaters looking to differentiate themselves and offer exclusive event-style experiences.
Cinemas can also reclaim their role as cultural hubs by curating special screenings, community-focused events, and live or limited-run experiences that digital platforms can’t replicate. This kind of programming—once a peripheral strategy—may now be central to rebuilding audience loyalty and expanding foot traffic.
With delays continuing to thin the studio release calendar—most notably with Paramount pushing the Kendrick Lamar and “South Park” collaboration to 2026—cinemas that rely solely on major studios will find themselves increasingly boxed in. In this climate, exhibition must be as creative and agile as the filmmakers it depends on.
Rather than waiting for studios to stabilize or restore former norms, cinemas have the opportunity—and the imperative—to explore new content alliances, embrace more dynamic programming, and position themselves not just as endpoints for Hollywood blockbusters, but as gateways to broader, bolder cinematic experiences.
