Waks Quoted in Variety About Increase in Movie Licensing Deals for Streaming During Pandemic

Partner Larry Waks was quoted in the Variety article, “Why ‘Harry Potter,’ Other Big Movies Have Become Hot Commodities During COVID Pandemic,” about the increase in volume of movie licensing deals during the pandemic. According to Variety, the appetite for fan-favorite comfort food entertainment to attract viewers to streaming services has soared as the flow of new television shows and movies has dried up due to COVID-related shutdowns.  As a result, library titles have become more valuable, and studios are  often licensing them for shorter runs as a way to capitalize on demand and make revenue.

Waks told Variety that he is seeing a 50 percent to 70 percent uptick in the volume of movie licensing deals during the pandemic, while fees have climbed 25 percent to 50 percent. “I think they’re lasting trends,” he said.