CBS Films is still committed to theatrical release for upcoming titles like ‘Five Feet Apart’ and ‘Scary Stories to Tell in the Dark.’
Over the course of 2019, CBS Films is being folded into CBS Entertainment Group, shifting its focus towards creating content for the company’s streaming platforms.
The company is committed to the theatrical release of four upcoming titles: Five Feet Apart, Scary Stories to Tell in the Dark, Pavarotti and Lexi. (Five Feet Apart, Scary Stories and Lexi will be distributed through the company’s partnership with Lionsgate.)
Layoffs are expected at CBS Films, which employs roughly 40 people, and will begin in mid-March. CBS Films president Terry Press is expected to continue to lead the division.
CBS Films will pivot toward developing, producing an acquiring projects for CBS’ digital platforms, which will likely include the company’s current streaming platform CBS All Access, the home to series offering like The Good Fight and Jordan Peele’s upcoming Twilight Zone reboot.
The move comes as dramas and genre offerings like romantic comedies are being backed by Netflix and Amazon, and studios have begun to move their mid-budget offerings to individual streaming services, like Disney+, pushing theatrical releases for their big-budget superhero movies and tentpole franchises.
CBS Films’s recent release include Hell or High Water, the Helen Mirren-fronted horror film Winchester and, most recently, the Vincent van Gogh biopic At Eternity’s Gate, which earned star Willem Dafoe a Golden Globe nomination.