CinemaCon Preview: Nolan, Cruise and the Warners Sale Loom Large

It seems like a lifetime ago when a record 11 companies — including the six major Hollywood studios — teased their upcoming films in 2018 at CinemaCon, the annual convention of theater owners and operators that’s been held for decades in Las Vegas.

The mood was one of general optimism; annual domestic box office revenue was still clocking in at north of $11 billion despite the rise of streaming. But in a harbinger of a far more serious threat — consolidation — then-20th Century Fox movie head Stacey Snider brought many to tears when addressing the looming sale of a large swath of Rupert Murdoch’s media and entertainment empire, including the film studio, to Disney. “Today we face a new transition and potential merger that will have lasting implications for the film business,” she said. A year later, Snider was gone, with the renamed 20th Century movie division becoming part of Disney’s CinemaCon presentation. “It’s a bit of a shock to be here as colleagues,” confessed Emma Watts, who had been vice chair at Fox and did a brief post-merger stint at Disney.

Shock was one way to put it. This year’s CinemaCon could prove all-out surreal as the number of major legacy studios further erodes at a time when cinemas need more product that can work theatrically, not less, if they are ever to recover from the pandemic and labor strikes. Numerous movies are expected to finally be dated, for example.

A plethora of huge stars and filmmakers are expected to participate, including Christopher Nolan and possibly even Steven Spielberg, as well as actors Zendaya, Matt Damon, Tom Holland, Timothée Chalamet and Tom Cruise. But the radical consolidation underway in Hollywood will share the stage inside the cavernous Colosseum Theater at Caesars Palace as nervous exhibitors try to wrap their heads around the notion of Skydance founder David Ellison buying up Warner Bros. — no matter what the cost or debt incurred — when the ink has barely dried on his acquisition of Paramount Pictures, which had been left crippled after years of financial neglect.

But hope runs eternal among box office pundits, with many counting on a repeat of summer 2023 and the Barbenheimer phenomenon. “Everyone feel very bullish about the prospects for a mighty impressive summer for movie theaters and studios,” says Comscore chief analyst Paul Dergarabedian.

Bullish, and terrified. “It’s unclear how the elephant in the room is going to play out, whether increased pressure from the tech companies, or the merging of two iconic studios with little clarity on what a joined Warner Bros./Paramount will ultimately look like in the film ecosystem a year from now,” says one top studio executive. “All of this will cast a bit of shadow on what’s supposed to be a celebratory week.”

Here’s a guide to the biggest headlines that could come out of CinemaCon 2026 from the five remaining legacy studios hosting presentations — Sony, Warners, Universal, Paramount and Disney. Amazon MGM, which is celebrating its first major box office hit, Project Hail Mary, also is presenting, as is the indie outfit Neon. Amazon MGM could leave exhibitors all-out elated if it dates the next Bond pic, although Daniel Craig’s replacement as 007 isn’t likely to be revealed just yet. Then again, it is Vegas.

WHAT WILL HE SAY THIS TIME?

Sony Pictures Entertainment chair Tom Rothman, whose studio for years has opened the show on Monday night, can generally be counted on for a pithy quote, such a “Netflix, my ass” (said at 2017’s CinemaCon). He and his team also could share sneak footage of what’s virtually assured of being the biggest live-action pic of the summer, Spider-Man: Brand New Day (July 31), produced by Marvel Studios president Kevin Feige. And don’t forget about the four Beatles pics that are Rothman’s passion project. Directed by Sam Mendes, they are opening in April 2028. Maybe we’ll finally know the exact dates each one is debuting.

HOW TO CELEBRATE DURING AN AWKWARD PERIOD

A year ago, Warner Bros. film chiefs Mike De Luca and Pam Abdy were raked over the coals by the media — this reporter included — when touting Sinners and One Battle After Another at CinemaCon. Pundits said both films cost far too much. The duo certainly got the last laugh: Sinners picked up a record 16 Oscar nominations and won a slew of top categories, including best original screenplay for filmmaker Ryan Coogler and best actor for Michael B. Jordan, and One Battle After Another won best picture, best director and adapted screenplay for Paul Thomas Anderson. It isn’t clear if De Luca and Abdy will follow Snider’s cue and talk about the ownership change; Ellison has said repeatedly he’ll keep the two studios separate (many say that’s likely true for at least two years).

Otherwise, expect to see something from their year-end movie Diggers, directed by Alejandro González Iñárritu and starring Tom Cruise in his first potential awards film in years. Legendary’s Dune: Part 3, starring Chalamet and Zendaya, and DC’s Supergirl will also be highlighted. Overall, Warners’ presentation may have fewer stars, but those that do turn out will be names known around the world.

MEET THE NEW TEAM

Whether or not Ellison will be on the ground in Vegas, new Paramount studio chiefs Dana Goldberg and Josh Greenstein are sure to make as much news as possible, either by announcing release dates or new projects. They’ll also promote films including May’s Billie Eilish — Hit Me Hard and Soft: The Tour, a 3D concert film directed by James Cameron. And Cruise recently was filmed atop Paramount’s water tower for some sort of CinemaCon reel. At Skydance, Ellison grew close with Cruise when partnering with Paramount and co-financing the Mission: Impossible and Top Gun franchises.

A STUDY IN STABILITY

Like Warners in years past, Universal is known for throwing a talent-rich CinemaCon show. Don’t expect that to change this time as it pulls off nothing short of a coup: having Nolan on hand to plug his July epic The Odyssey (Damon plays the lead, while other high-profile names on the call sheet include Zendaya, Holland and Charlize Theron). And don’t be surprised if Spielberg could make his CinemaCon stage debut to promote Disclosure Day, his summer sci-fi event picture that stars Emily Blunt (she’s also in The Devil Wears Prada 2, which kicks off the summer box office May 1), Josh O’Connor, Eve Hewson, Colin Firth and more. And exhibitors never tire of the chance to catch up with longtime Universal movie chief Donna Langley, who now overseas all content across movies, TV and streaming as chair of NBCUniversal Entertainment & Studios.

Disney, which historically relied on footage instead of talent, also is expected to pull out all the stops in terms of star and filmmaker power. Its slate is enviable, from 20th Century’s The Devil Wears Prada sequel to Pixar’s Toy Story 5 to the December event pic Avengers: Doomsday. That last one, from Marvel, has been shrouded in mystery, so now would be an opportune time to demonstrate that the film will deliver. Sources say Doomsday is exploding on long-lead tracking. Disney also has two Star Wars films on the horizon: director Jon Favreau’s The Mandalorian & Grogu, which releases in May, and next year’s Starfighter, starring Ryan Gosling.

A version of this story appeared in the April 8 issue of The Hollywood Reporter magazine. Click here to subscribe.