With studio chiefs in the hot seat, Warner Bros. bets on an ambitious film lineup

Los Angeles Times

02-04-2025

LAS VEGAS — As Warner Bros.' embattled studio heads Pam Abdy and Mike De Luca confidently unveiled their upcoming films to movie theater owners in the Caesars Palace Colosseum on Tuesday evening, there was little to suggest a studio in trouble.
During their presentation at CinemaCon — the movie business' trade show in Las Vegas — they elicited cheers after bringing out Leonardo DiCaprio, Regina Hall and Teyana Taylor to promote their upcoming film, 'One Battle After Another.'
They got the audience to collectively groan in horror at a particularly gory clip from 'Final Destination: Bloodlines' involving an MRI machine, body piercings and a vending machine spring.
And they introduced the star of 'The Bride!' as well as Superman himself, David Corenswet, who walked on stage to the 'Superman' score with co-stars Rachel Brosnahan and Nicholas Hoult.
'It's a great honor to play a role that exists so clearly in the public consciousness,' Corenswet said onstage, after receiving loud applause.
And yet, Abdy and De Luca's future — and the success of Warner Bros.' film bets — is far from certain. After a string of box office disappointments and grumblings about high budgets, rumors have been swirling that De Luca and Abdy's days at the top of the nearly 102-year-old studio are numbered, which the studio has denied.
In October, the Burbank studio's highly anticipated 'Joker: Folie à Deux' was a dud, falling far short of expectations despite a reported budget of at least $190 million before marketing. Director Todd Phillips was given much freedom to make his divisive musical sequel starring Joaquin Phoenix and Lady Gaga. The gamble backfired.
Then in March, Oscar-winning director Bong Joon Ho's sci-fi thriller 'Mickey 17' struggled at the box office. The film has made only $121 million globally, despite a reported budget of $118 million. The Robert De Niro-led mob movie 'The Alto Knights' also bombed with $9 million.
The studio is counting on the family-friendly and video game-inspired 'A Minecraft Movie,' which comes out in theaters this weekend, to turn its fortunes around. It's expected to open with about $60 million in domestic ticket sales. (Jeff Goldstein, Warner Bros. president of global theatrical distribution, told the Colosseum crowd Tuesday that advance sales have been 'impressive.')
The presentation featured some high-stakes gambles.
De Luca and Abdy have bet on big budget projects by auteur directors not based on tested intellectual property, the kinds of movies that make risk-averse studio chiefs sweat bullets. The executives showed footage for 'One Battle After Another,' a $130-million crime thriller written and directed by acclaimed filmmaker Paul Thomas Anderson.
'It's an incredibly epic movie,' DiCaprio said onstage.
They also showed footage from Maggie Gyllenhaal's 'The Bride!,' which will arrive in theaters next year and has a reported budget of $80 million. Abdy told the crowd Tuesday night that 'audiences will be knocked out' by Gyllenhaal's take on the classic Mary Shelley story of 'Frankenstein,' saying it 'introduces us to a world that could only spring from Maggie's brilliant imagination.'
'It will rock your world,' De Luca added.
There was also footage from Zach Cregger's 'Weapons,' a summer horror film about an entire classroom of children that goes missing, and a video message from Ryan Coogler to promote his upcoming film 'Sinners.'
'There's a lot to look forward to over the next year,' Abdy said.
Attendees leaving the Colosseum on Tuesday night mused that the presentation gave them confidence in the studio's slate of films.
'Warner Bros. showcased a lot of reason to be optimistic about their slate as the CinemaCon presentation highlighted a number of high-potential, diverse, and commercially attractive releases later this year and beyond,' said Shawn Robbins, founder of film business analysis site Box Office Theory.
Some of the studio's box office struggles predate Abdy and De Luca's tenure and were projects green-lighted by a previous regime.
De Luca and Abdy were named to lead the storied studio in 2022, replacing Toby Emmerich. They previously helmed MGM's movie operations, where they championed filmmaker-driven movies such as Anderson's 'Licorice Pizza' and Ridley Scott's 'House of Gucci.' Amazon had closed an $8.5-billion deal to purchase MGM, home of the 'Creed' and James Bond films.
Nonetheless, the string of flops has led to questions about their leadership and created uncertainty at the studio, which has already gone through a major shakeup this year. Marketing chief Josh Goldstine and international film distribution head Andrew Cripps announced their departures in January.
The pressure on the film division comes as Warner Bros. Discovery Chief Executive David Zaslav has taken much interest in its operations. The company is saddled with billions of dollars in debt and has slashed thousands of jobs to cut costs.
The perceived instability of the film studio's leadership has made some filmmakers wary about setting up projects with Warner Bros., especially those that may need development, said a Hollywood insider who requested anonymity to protect relationships.
Warner Bros. rebutted speculation that Abdy and De Luca's jobs are in jeopardy. In a statement to Bloomberg, company spokesperson Robert Gibbs said that 'the rumor of an imminent leadership change at the studio is not accurate.'
Under De Luca and Abdy's watch, the studio relaunched its animation division, which has five films in production, including 'The Cat in the Hat.' Subsidiary New Line Cinema has franchise installments, including 'The Conjuring: Last Rites' and a 'Mortal Kombat' sequel. (After a 'Final Destination: Bloodlines' clip, Brenner, with a deadpan expression, said, 'See you at the Oscars.')
For De Luca, joining Warner Bros was a bit of a homecoming. He'd previously served as New Line's president of production until he was fired in 2001 after a run of box office flops. His replacement was Emmerich.
Both De Luca and Abdy are known for their taste and being filmmaker friendly. De Luca produced 'The Social Network,' while Abdy did 'Garden State' and 'Queen & Slim.'
Fellow Warner Bros. executives on stage for the CinemaCon presentation offered praise and support for Abdy and De Luca's leadership, as well as the studio's future.
Bill Damaschke, president of Warner Bros. Pictures Animation, thanked the pair onstage for allowing him to join the team, saying their shared vision was 'truly inspiring.'
'Telling original stories and taking risks is the only path toward creating new global franchises,' Damaschke said.