What a difference a year can make in Hollywood. Last year at CinemaCon, Warner Bros. Motion Picture Group co-chairs Mike De Luca and Pam Abdy took the stage with unwavering confidence, electrifying the audience of theater owners with insights into their blockbuster projects, notably the success of *Barbie*, which they inherited upon their arrival from MGM in the summer of 2022.

Fast forward to this year, and the atmosphere has drastically shifted. Nearly three years into their roles, De Luca and Abdy are weathering stormy seas following a string of costly misfires, most notably Bong Joon Ho’s *Mickey 17*. With a production budget of approximately $118 million, this ambitious film has disappointingly raked in only $43 million domestically and $121.5 million worldwide since its release. This project has become a symbol of their vision to champion original storytelling over traditional tentpole films, but their strategy is now under scrutiny.

Warner Bros. Discovery CEO David Zaslav has reportedly grown anxious about the lack of big intellectual properties (IPs) coming from Warner Bros. and is dissatisfied with the financial implications stemming from high-budget, auteur-driven projects. This pressure has left De Luca and Abdy in a cautious position, with their professional futures hanging precariously in the balance.

Despite the mounting tension, the pair maintained a brave front at CinemaCon, carefully steering clear of any discussions about their internal struggles. However, their performance reflected a palpable nervousness that contrasted with their earlier stage presence in past appearances. De Luca’s offhand admission, “Next year, I’ll do the harder names,” during Abdy’s teleprompter slip emphasized the strain they currently face.

The mood in the audience was notably flat at times, even when Hollywood icon Leonardo DiCaprio joined them on stage to support the promotion of Paul Thomas Anderson’s *One Battle After Another*. With a staggering budget of $150 million—an unprecedented figure for Anderson—the stakes are high for this project.

Looking ahead, another major risk for De Luca and Abdy is Ryan Coogler’s *Sinners*, set to premiere on April 18. This supernatural horror film, with a production budget of $80 to $90 million, was secured through a competitive bidding process that included a unique agreement allowing Coogler to retain IP rights after several decades.

Coogler, whose previous works have grossed over $2.6 billion globally, expressed his deep connection to *Sinners* during a video message to theater owners, emphasizing its personal significance.

In a rare positive note, the soon-to-be-released *Minecraft Movie*, a collaboration with Legendary Pictures, has generated enthusiastic buzz and is anticipated to perform well at the box office. Nonetheless, the duo recognizes that credit for this success cannot be solely attributed to them.

As uncertainty looms over their leadership, reports from Bloomberg suggest that Zaslav may be exploring potential successors, adding to the pressure on De Luca and Abdy.

In their opening remarks, Abdy took a moment to express gratitude towards their exhibition partners in the industry: “We continue to believe our movie business is uniquely positioned to drive culture and create value on a global scale. Thank you for your unwavering support of our films in your theaters,” she noted.

As Warner Bros. stands at a crossroads, all eyes will be on how De Luca and Abdy navigate these tumultuous waters in the coming year. Will they rise to the occasion and win back the trust of both their audience and their executives, or is this the beginning of the end for their tenure at the studio? Only time will tell!