Comcast Corp.’s Universal Pictures is joining the ranks of studios that have premiered a major film on a streaming service at the same time it comes out in theaters.
"The Boss Baby: Family Business,” a sequel to the 2017 animated hit "Boss Baby,” will be available to Peacock Premium members for no additional charge on July 2 -- the same day it’s scheduled to hit cinemas. The film was previously supposed to reach the big screen on Sept. 17.
The debut represents a departure for the studio. Rivals such as Walt Disney Co. and AT&T Inc.’s Warner Bros. have embraced the approach of simultaneously releasing movies online and on the big screen. But Universal has mostly preserved the so-called theatrical window -- the exclusive run that movies have traditionally gotten at cinemas.
The company was instrumental, however, in shortening that window. It was the first to forge an agreement with movie chains to shrink the length of time to as little as 17 days, rather than the traditional three months. Other studios have since hashed out similar terms with theater operators.
Now Universal appears to be scrapping that deal too, at least for this film.
"Our Peacock subscribers love movies, so we are thrilled to be expanding our relationship with Universal Filmed entertainment Group and to offer Peacock customers this premium content from one of the industry’s most beloved animation brands,” said Matt Strauss, chairman of direct-to-consumer and international operations at NBCUniversal, the Comcast division that oversees both Universal Pictures and Peacock.
NBCUniversal is trying to drive more customers to Peacock, which faces a crowded field of deep-pocketed streaming rivals. The service has about 42 million customers, compared with more than 100 million at Disney+ and 200 million at Netflix Inc.
Peacock’s competitors are also assembling more material to entice customers. AT&T’s WarnerMedia is merging with Discovery Inc. to create a new streaming-focused behemoth. And Amazon.com Inc. is closing in on a deal to buy the James Bond studio Metro-Goldwyn-Mayer, according to a person familiar with negotiations.
"The Boss Baby: Family Business” tells the story of two brothers who have grown up and drifted apart. It stars Alec Baldwin, James Marsden and Eva Longoria.
