Since the departure of major Hollywood studios from the Russian market in 2022, Russian online cinemas have undergone a significant transformation. Now, it appears that a turning point is emerging: major streaming services like Okko and Kinopoisk have reportedly resumed talks with American film studios. The goal of the negotiations is to bring popular Hollywood productions back to Russian platforms, according to the news portal RBK.
According to an Okko representative, the situation has changed in recent weeks. “We are once again in contact with some major studios that previously refused to engage in any dialogue. This shows that their rigid stance has softened somewhat” he explained. However, it is still too early to discuss concrete plans for the return of Hollywood productions. Much depends on the political situation.
Kinopoisk also confirmed the contact with Hollywood, stating that the company is working on a possible cooperation with the Lionsgate studio, which is behind the “Hunger Games” film series.
Despite the cautious approach, significant hurdles remain. A industry expert noted that the greatest challenge lies in the payment modalities. Sanctions and economic restrictions complicate the flow of money between Russia and Western countries. Another point is the changed Russian media law, which requires Western studios to comply with new rules, including those on the depiction of LGBT themes.
In March 2022, the five major US-American film studios, Disney, Warner Bros., Sony Pictures, Paramount and Universal, halted their activities in Russia in response to the war in Ukraine. The studios terminated existing contracts with Russian streaming services and television channels, leading to the disappearance of many popular films and series from their catalogs.
This loss had significant impacts on the Russian streaming market. In 2022, the platforms suffered significant losses, with each provider experiencing a decline in revenue. To compensate for the lack of Hollywood blockbusters, the streaming services invested in content from Asia and Turkey and accelerated the production of their own content. Several of these original productions were successful and helped to replace some of the lost Hollywood films.