Warner Bros. to release new "Matrix" and other 2021 movies on HBO Max

In the most seismic shift by a Hollywood studio yet during the pandemic, Warner Bros. Pictures on Thursday announced that all of its 2021 film slate — including a new "Matrix" movie, "Godzilla vs. Kong" and the Lin-Manuel Miranda adaptation "In the Heights" — will stream on HBO Max at the same time they play in theaters.

Among the myriad release plan changes wrought by the pandemic, no studio has so fully embraced streaming as a lifeline. But after disappointing domestic ticket sales for "Tenet," and with the majority of U.S. theaters currently closed, Warner Bros. will turn to a hybrid distribution model. Films will debut simultaneously in theaters and on HBO Max in the U.S. After one month, they will stop streaming and continue to play only in theaters.

The move follows Warner Bros.' decision to put "Wonder Woman 1984" on HBO Max in December, in addition to in theaters. If that pivot sent shockwaves through the industry, Thursday's announcement was likely to rattle Hollywood to the core. It amounts to an acknowledgement that any full rebound for theaters is still a year or more away.

"No one wants films back on the big screen more than we do," said Ann Sarnoff, chief executive of WarnerMedia Studios, in a statement. "We know new content is the lifeblood of theatrical exhibition, but we have to balance this with the reality that most theaters in the U.S. will likely operate at reduced capacity throughout 2021."

Warner Bros. called it a one-year plan. The studio has generally ranked among the top two studios in market share over the past decade — most recently dwarfed only by Walt Disney.

Warner Bros.' 2021 slate includes many of the expected top movies of the year, including "Dune," "The Suicide Squad," "Tom & Jerry," "The Conjuring: The Devil Make Me Do It," "King Richard" and "Judas and the Black Messiah."

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