David Ellison Paramount Warner Bros 30 film releases
Paramount Skydance CEO David Ellison speaks onstage during the Paramount Pictures presentation at CinemaCon at the Colosseum at Caesars Palace on April 16, 2026 in Las Vegas, Nevada.
Valerie Macon | AFP | Getty Images
extraordinary CEO David Ellison is trying to do something no other studio has done in the modern era of cinema: release 30 movies a year.
Ellison once again touted this theatrical success in front of thousands of attendees at CinemaCon earlier this month. After the announcement, the crowd erupted in applause.
Privately, however, movie theater operators have expressed concerns and skepticism about the proposed slate of upcoming films. Although the release of a large number of films will help theaters, companies are doubtful that he can keep his promise.
The 30-picture plan was developed by Paramount, Warner Bros. It will be contingent on receiving regulatory approval for the proposed merger with Discovery, which Warner Bros. Something Discovery’s shareholders approved last week. Ellison noted that each studio will produce 15 films per year.
But Ellison didn’t provide many details about these 30 publications, and it’s unclear how he would achieve this ambitious goal. Paramount representatives did not respond to CNBC’s request for comment.
It’s unclear whether all films will have wide release (i.e. they will ultimately be released in at least 1,500 theaters, though the typical reference point is 2,000). It’s also unclear whether the company will count movies it distributes but not produce as part of that figure, or how many of the proposed movies would be considered blockbusters.
Movie theater operators and industry experts are skeptical that Paramount will be able to sustain a 30-film slate after the initial merger. After all, part of the consolidation process is eliminating layoffs; This inevitably leads to layoffs and cost-cutting measures that often result in less production.
“When it comes to traditional brand-new wide release movies, 30 movies a year is a big plan, given that most distributors average between 10 and 15 wide releases each year,” said Paul Dergarabedian, head of market trends at Comscore.
In fact, no studio in the last 25 years has released 30 movies in one year. The combination of 20th Century Fox and Searchlight came close in 2006, when the studios had 25 wide releases, according to Comscore data.
The data also shows that when studios merged in the past, the result was fewer theatrical releases, not more.
Before purchasing 21st Century Fox and its studio assets, Disney had been producing an average of 12 films per year since 2000. Meanwhile, the joint efforts of 20th Century Fox and Searchlight averaged 16 films during the same period. Excluding 2020, when theatrical releases were impacted by pandemic-related theater closures, Disney averaged 13 movies per year after the 2019 merger.
The line chart shows the yearly films released by Disney and 20th Century between 2000 and 2019, before the two companies’ eventual merger.
“I don’t recall any examples of consolidation where one plus one equals two,” Eric Handler, managing director and senior research analyst at Roth Capital Partners, told CNBC.
Additionally, Paramount and Warner Bros.’s combined slate will face competition for coveted premium large-format theaters, as well as some logistical issues in packing 30 films into a 52-week schedule.
Broad swaths of Hollywood also opposed the merger, citing similar concerns about job losses and reduced production. more than that 4,000 A-listers, Names including Robert De Niro, David Fincher, Pedro Pascal and Florence Pugh signed an open letter opposing the merger of the two companies.
But at least one theater operator supports the merger. AMC CEO Adam Aron made statements in favor of Paramount’s acquisition of Warner Bros. at CinemaCon earlier this month.
“Of particular significance is David’s public commitments to expand film distribution by Paramount and Warner to at least 30 films per year and his vocal embrace of a 45-day exclusive theatrical window,” he wrote in a statement.
“I am confident that David Ellison is sincere about his intentions, and I truly believe that he will eventually fulfill those commitments,” he added.
‘Empty seats and empty screens’
But Ellison’s goal would not only be higher than recent precedents, it would be much greater.
“Historically the maximum you see outside of the studio is around 20 per year,” said Doug Creutz, senior research analyst at TD Cowen.
Disney, Universal and Warner Bros. He noted that studios such as have the funds to produce 30 films a year, but they do not do so not only because it is not profitable, but also because few studios have enough quality intellectual property or original stories to release within a year.
“If you had 30 good ideas, then I would say do it, but you won’t,” he said. “Most studios don’t have 20 good ideas.”
“I think the reality is they’re going to notice it, they probably already noticed it, but they’re saying 30 because you’re trying to get the deal approved,” Creutz added. “My guess is there is no year in which Warner and Paramount will release 30 films unless candidates are determined prior to the merger.”
That view was echoed by industry analysts, movie theater owners and even rival studios in CNBC’s exclusive interviews at CinemaCon earlier this month. Moreover, there was a huge sense of tension between studios and theater operators, especially when it came to the number of theatrical films offered.
Theater companies would welcome better quality screenings, but there has been a shortage of these screenings in the wake of the Covid outbreak.
“I tell people that until the studios step in and give us something to play, the only thing in the exhibit is empty seats and empty screens,” one veteran theater executive, who asked to remain anonymous to speak candidly, told CNBC. “We have no alternative.”
The executive noted that reruns of movies, live sports and concert screenings “don’t pay the bills” and even concession sales don’t generate as much revenue as they used to.
“We can’t live without movies,” they said.
Movie theaters were in a difficult situation due to the lack of movies in the wake of the pandemic. Production was slowed by Covid-related closures and only got worse a few years later when both the writers’ and actors’ guilds went on strike. At the same time, streaming is becoming more prominent and studios are producing fewer titles for theatrical release.
Fewer films resulted in lower domestic box office sales. Before the pandemic, annual ticket sales in the U.S. and Canada routinely exceeded $11 billion, but in subsequent years the studios’ collective efforts have yet to surpass $10 billion.
This year may break that trend, as its movie slate is significantly larger. However, if the merger takes place, the expectation is that the release schedule will narrow once again.
“We know what’s going to happen,” the veteran theater manager said. “We know Paramount eating Warner would be just like Disney-Fox. There’s no difference.”
Other theater operators echoed these sentiments when speaking anonymously to CNBC. They also questioned how the holes in the slate would be filled if Paramount was unable to fulfill its 30-film plan.
Amazon MGM has stepped into this level in recent years and has promised to release at least 15 feature films a year starting from 2027. 13 releases in 2026. Project Hail Mary, one of his last films released in March, broke box office records for the studio and brought the audience to the cinemas.
However, Amazon’s 15 movies added to the overall list each year had already begun to replace the movies lost due to the Disney-Fox merger. It wouldn’t be enough to factor in the title losses resulting from the merger of Paramount and Warner Bros.
“It’s not very good for the exhibition,” the film veteran said. “It’s a lose-lose proposition.”
