NBCUniversal chief executive Jeff Shell said the decision simultaneously to release films in cinemas and on streaming services was paying off.
The pandemic-inspired model of film releases has been “attracting some of the best filmmakers,” Shell commented.
Previously, studios made movies available just in cinemas before unveiling them to viewers at home, a situation that changed when lockdowns hit the world.
Breaking down the traditional film release model, called the movie-windowing scheme, was heavily criticised by cinema owners but Shell disagrees.
“That construct of the windowing combined with the fact that streamers really want movies, movies are driving platforms, has, in my opinion, made the movie business economically better,” Shell said.
Comcast (NASDAQ:CMCSA) Corp-owned NBCUniversal, which owns CNBC, said it has continued amending its approach on a film-by-film basis.
The movie ‘Nope,’ for example, was released in cinemas before becoming exclusively available on the company’s Peacock streaming service.
Others, including the latest of the ‘Halloween’ movie franchise, were released simultaneously in cinemas and on the streaming service.
Peacock has roughly 15mln paying subscribers and 30mln active accounts in total, according to Shell.
Much of its recent subscriber growth has been driven by content such as the company’s sports and movie offerings, he added.
Comcast (NASDAQ:CMCSA) shares were 2% lower at US$30.39 on Wednesday afternoon following the news.
Warner Bros has released many of its largest movies on its HBO Max streaming service and in cinemas simultaneously.