Snyder’s cut of “Justice League” is a gamble for Warner Bros.

The long-awaited four-hour “Justice League” director’s cut came on HBO’s Max Thursday.

Mounted from hours of unused footage and cut along with recently filmed scenes, the Snyder Cut is an anomaly in the entertainment industry. Driven by a years-long social media campaign, Zack Snyder had a second chance to craft his version of “Justice League”.

WarnerMedia, owned by AT&T, saw the fervent crusade for the official cut of Snyder’s film as a way to please ardent fans and encourage its HBO Max streaming service with exclusive content.

However, the risk is that “Justice League” may not return the dividends WarnerMedia needs. The film sets sequels that DC fans will never be able to see, meaning even if it manages to attract subscribers by March, there is no promise of new DC-related content on the horizon because the streaming service keep up to date. inscriptions around.

Initial estimates set the price of Snyder’s second dam at $ 20 million to $ 30 million, because many of the computer-generated images were unfinished. However, more recent estimates suggest that WarnerMedia may have spent $ 70 million or more on the project, as Snyder brought in several actors to shoot new material. It is unclear whether this figure includes marketing spending.

WarnerMedia declined to comment on the project’s financial terms.

The cost could be justified if WarnerMedia uses the film to gain subscribers and encourages enough current subscribers to stay with the service, said Dan Rayburn, media and streaming analyst.

What may help is that HBO Max has several high-profile versions coming to its platform in March and early April. On March 31, “Godzilla vs. Kong” arrives in the service, and on April 16, “Mortal Kombat” will be released. Each will spend about a month on HBO Max before going to the video on demand for a rental fee.

This strategy of having a steady, steady stream of new content can help retain subscribers.

And then there are the fans. Although Snyder and DC Films president Walter Hamada have said that this updated “Justice League” will not generate referrals or automatically set up a sequel, the film allows Warner Bros. regain a good will.

“I definitely think fans will be pleased,” said Erik Davis, managing editor of Fandango.

Davis, who was able to see the new “Justice League” before its release on HBO Max, said Snyder Cut is a “much better version of the film.”

The Snyder Cut basically erases co-writer and co-director Joss Whedon from the film. Whedon had been incorporated on board after executives refused the initial cut of Snyder’s film and took over when Snyder left the project after his daughter’s death.

Whedon reduced Snyder’s 214-minute cut and impregnated him with moments of lightness, which Warner Bros. he wanted to mimic the style of comedy that was successful in the Marvel Cinematic Universe.

Because Whedon’s version altered Snyder’s work so much, fans have claimed to see the director’s cut of “Justice League,” believing it to be the purest version of the film. In May 2020, WarnerMedia granted them that wish and invested in getting Snyder back to finish it.

While fans will be delighted to finally have Snyder’s cut, there is a major flaw in Warner Bros. ‘plans to release this movie.

When Snyder developed the “Justice League” more than five years ago, DC Extended Universe was expected to continue to expand with this cast in the same way that the MCU had developed. Solo movies would become team movies. Ben Affleck was supposed to have his own independent characteristic and Snyder was already talking about a “Justice League” sequel.

However, this plan is completely different in 2021. All the cameos and settings in Snyder’s film will probably never be seen by DC fans.

Affleck may be attached to the upcoming “Flash” movie, but it is not known if after doing so he will put the hood on some DC project. Not to mention, Warner Bros. has already put forward a new Batman film starring Robert Pattinson, one that doesn’t connect to any of the previous films released by the studio.

As for Superman, Henry Cavill is still tied to the role, but it’s unclear when or where the character will appear.

And Ray Fisher, who played Cyborg, has a worn-out relationship with the studio. The actor accused Whedon of harassment on set and an investigation was conducted. Fisher also said harsh things about the head of DC, Hamada, who he said helped help Whedon’s actions.

As such, Fisher has said he will not participate in any films associated with Hamada. Therefore, Warner Bros. would have to refound the role if they wanted to put the Cyborg back on to make a team film.

Warner Bros. ‘the decision to fund and launch this new’ Justice League ‘may appease fans, but it doesn’t serve to further the franchise’s film universe.

Disney, which owns Marvel, has used its Disney + streaming service to expand its film versions. Shows like “WandaVision,” “The Hawk and the Winter Soldier,” and “Loki” are directly linked to the MCU and must be seen to understand all the nuances of the upcoming feature films.

The Snyder Cut doesn’t. It exists in a vacuum.

As for the hope that fans will come to HBO Max to see the film, increasing the number of subscribers, the important thing is the longevity of their interest.

“Is it good business? Maybe.” Said Shawn Robbins, chief analyst at Boxoffice.com. “As a single release, the film may momentarily increase subscriptions to HBO Max, but streamers are stronger with episodic, weekly content that makes casual consumers come back for binge after binge.”

Robbins noted that “Justice League” is a niche film, as its demographic viewers distort young people and men. So while it will likely appeal to DC fans, it may not do much to move the needle in subscription subscriptions across the board, unless they are attracted to other HBO Max content.

“The ‘Justice League’ alone may not be the answer to the company’s future needs, especially because the DC brand has already begun to move in other directions creatively, but it can succeed as a symbolic Valentine’s Day for fans.” , said Robbins.

AT&T seems to trust HBO Max. The company increased its subscriber projections last week to a range of 120 to 150 million for HBO Max and HBO by the end of 2025.

In October 2019, the company set a goal of reaching 50 million subscribers in the United States by 2025, a relatively low bar given that HBO’s premium cable channel already had around 33 million subscribers before the launch of the broadcast service.

Still, there seems to be a missed opportunity to release “Justice League” before HBO Max expands globally. The platform will be launched in about 60 markets outside the US this year and will launch a low-cost version with advertising in June. “Justice League” earned most of its $ 658 million in ticket sales internationally. It only added $ 230 million to the U.S. box office.

WarnerMedia could easily have used the “Justice League” as a claim for international releases. Instead, the film, which will be broadcast in high definition in the state, is likely to be a favorite target for international digital hackers.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC. NBCUniversal owns Fandango and Rotten Tomatoes.