One of Hollywood's major movie studios will release all its 2021 films on a streaming service the same day they arrive in cinemas.

It's a previously unheard-of move, and it could alter the way we enjoy new release films long term, even after the pandemic ends.

Here's how it will work

The movies will be available for one month on the streaming platform, at this stage just for 2021.

It's part of a plan to maintain eyeballs on the studio's biggest releases at a time when the pandemic is keeping cinemas closed across the United States.

Ann Sarnoff, chair and CEO of WarnerMedia Studios and Networks Group, said:

"No-one wants films back on the big screen more than we do."

"We know new content is the lifeblood of theatrical exhibition, but we have to balance this with the reality that most theatres in the US will likely operate at reduced capacity throughout 2021."

It's not yet clear what this means in Australia.

HBO Max is not available here, but HBO content is on Foxtel and its streaming platform Binge thanks to a recent deal between Foxtel and WarnerMedia.

Here's why it matters

Historically, movies have had a theatrical window, where cinemas get exclusive access before a film gets released to a streaming service — or, in the old days, became available at your local video rental shop.

That was a lucrative period for cinemas. If it gets diminished — or disappears entirely — it could hurt the cinema industry, which has already been hit hard this year by closures, caps on capacity, high overheads and a lack of new films to show.

While things are a little better in Australia, in the US, major cinema chains have been borrowing cash to survive and begging for government help.

Shares of AMC Entertainment, the world's largest theatre operator, fell 16% after the announcement on Friday morning.

For Cinemark, another big operator, shares went down 22%.

Warner Bros' decision could also accelerate a behavioural shift toward streaming services, which have multiplied in recent years, and cement the view that we can just get whatever content we want without leaving our couch.

And it's not just one studio that is moving in this direction.

Disney has already sent some major titles directly to its streaming service Disney+ this year, and it will announce its new streaming plans next week.

Story By | Paul Donoughue