The directors of Batgirl have said they were "shocked" that the $90 million superhero film had been axed by the studio and will now not be released in any format.
Warner Bros Discovery announced they were shelving the movie adaptation of the DC Comics character, which was to star Leslie Grace in the title role, alongside Michael Keaton as Batman, preventing it from being seen in either cinemas or on the streaming platform HBO Max.
"We are saddened and shocked by the news. We still can't believe it," directors Adil El Arbi and Bilall Fallah wrote on Instagram on Wednesday.
"As directors, it is critical that our work be shown to audiences, and while the film was far from finished, we wish that fans all over the world would have had the opportunity to see and embrace the final film themselves."
The movie had completed principal photography and much of the post-production work — where special effects, sound and graphics are added — was also done.
Grace (In the Heights) released an upbeat statement on her Instagram account on Wednesday night, saying she was "proud of the love, hard work and intention all of our incredible cast and tireless crew put into this film more than seven months in Scotland.
"I feel blessed to have worked among absolute greats and forged relationships for a lifetime in the process!"
Her efforts were applauded by El Arbi and Fallah, who described themselves as "huge fans of Batman since we were little kids".
"It was a dream to work with such fantastic actors like Michael Keaton, JK Simmons, Brendan Fraser... and especially the great Leslie Grace, who portrayed Batgirl with so much passion, dedication and humanity," the Bad Boys for Life directing duo said.
The move sent shock waves through Hollywood, where industry veterans said it was unprecedented for a movie to be so close to completion — and with so much money already spent — and not be released.
Streaming platforms' belt-tightening
Batgirl appears to have fallen victim to a change in corporate strategy after a merger between Warner Bros and Discovery.
Warner Bros had committed to making movies that could go straight to HBO Max as part of an effort to boost subscribers in the increasingly crowded streaming sector.
The decision, which was driven partially by a need to bypass Covid-hit theatres in 2021, was not popular among creatives and appears to have been rolled back after the tie-up with Discovery.
Trade title Variety quoted industry insiders as saying Batgirl had fallen between two stools — not big and glitzy enough for a theatrical release, with its expensive marketing requirements, but too big to make economic sense in the belt-tightening streaming landscape.
Variety said the $90m hole this would leave in the studio's balance sheet would probably be dealt with via a tax write-down — a process where companies reduce their exposure to tax by subtracting losses from their profits.
Read more from Aya Iskandarani
What drives subscription retailing?
Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.
The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.
The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.
The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.
UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.
That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.
Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
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About Okadoc
Date started: Okadoc, 2018
Founder/CEO: Fodhil Benturquia
Based: Dubai, UAE
Sector: Healthcare
Size: (employees/revenue) 40 staff; undisclosed revenues recording “double-digit” monthly growth
Funding stage: Series B fundraising round to conclude in February
Investors: Undisclosed
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Date started: February 2017
Founders: Amira Rashad (CEO), Yusuf Saber (CTO), Mahmoud Sayedahmed (adviser), Reda Bouraoui (adviser)
Based: Dubai, UAE
Sector: E-commerce
Size: 50 employees
Funding: approximately $6m
Investors: Beco Capital, Enabling Future and Wain in the UAE; China's MSA Capital; 500 Startups; Faith Capital and Savour Ventures in Kuwait