David Zaslav, CEO of Warner Bros. Discovery, said Thursday that the company is looking at a "reset" of its DC cinematic universe and a 10-year plan for the franchise.
The revelation comes two days after the company announced it would shelve its straight-to-streaming DC film "Batgirl," surprising fans and offering a glimpse into the streaming strategy under recently installed Zaslav.
Zaslav was asked about the decision to axe "Batgirl" during an earnings call Thursday. Quality will be a part of that.
While Zaslav stopped short of commenting on the quality of "Batgirl" explicitly, his statements suggest the film didn't fit the company's new vision There is a plan to reestablish a commitment to theatrical-only releases.
Zaslav said that they have been able to see how direct-to-streaming movies perform. It's not comparable to what happens when a movie is released in the theaters.
The former WarnerMedia CEO, who prioritized streaming and digital media, was replaced by David Zaslav at the newly merged Warner Bros. Discovery.
We can't find an economic case for the idea of expensive films going directly to streaming. There isn't an economic value for it. We're making a change.
Warner Bros. has been combing its books for places to save money since it merged with Discovery. The company can take a tax write off as a result of shelving the film.
The film will not be released on the company's streaming service, premier in theaters or be a TV show.
It saves Warner Bros. Discovery potential marketing costs and back-end payouts in original film contracts.
After a film's release, big name actors are often paid based on box office numbers. Michael Keaton reprised his role as Batman, J.K. Simmons was cast as Commissioner Jim Gordon, and Brendan Fraser was chosen to play the villain Firefly.
Robert Thompson, a professor at Syracuse University and a pop culture expert, said, "Although the stated explanation for the scrapping of 'Batgirl' concerns the changing strategies with regards to feature films being released directly to streaming platforms, this still seems to be a remarkable decision."
Thompson said that the decision seems to pass at least some judgement on the film's quality.
The social cost of shelving the movie is not known. Fans of DC comics were disappointed and many questioned why the project was axed.
Warner Bros. Discovery was accused of not addressing allegations against the star of the show.
Many subscribers took to social media to worry that their favorite shows could be next on the chopping block after the decision to axe "Batgirl."
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