The past year has revealed harsh realities about where the film industry is heading. This is mainly due to a huge elephant in the studio director’s room: the streaming services.
When you’re a popular studio conglomerate with tons of cash, the big questions for the future are: how are you adjusting to the digital streaming age? And how to do it quickly?
Let’s go back to the pre-pandemic times for a moment. Before the pandemic, according to IndieWire, most studios put their films on streaming platforms after a 75-day window in theaters, so those studios were getting a profit margin large enough “to afford” audiences using the pandemic. cheapest alternative to watch the movie streaming.
Streaming now works differently depending on the studio. For example, Disney + releases movies on a case-by-case basis. Sometimes it puts its features, such as âBlack Widow,â in theaters and on its streaming service at the same time (for an extra $ 30 on the streaming service). Other times, it just releases movies only in theaters for a standard 45-day window.
Universal, meanwhile, typically makes a 17-day theatrical window for movies, unless the first weekend’s gross margin is $ 50 million.
According to news site The Verge, HBO Max, a streaming service from WarnerMedia, has a date-and-date release plan for the films in 2021, putting them in theaters and on HBO Max on the same day.
Is your brain starting to ache from all of this? Mine does it!
Hollywood doesn’t know how to move forward with a theatrical release strategy, audiences are confused and many films have failed because of it.
Streaming itself is by no means a failure, as some streaming giants are having great success with their strategies. According to media company Business Wire, the size of the global video streaming market is expected to reach $ 223 billion by 2028, which includes on-demand streaming (video rentals).
But it’s clear there’s still money coming from theatrical releases. Just recently, âVenom: Let There Be Carnageâ won a massive opening weekend of $ 90.1 million in gross domestic profit. For another 2021 film, âShang-Chi and the Legend of the Ten Rings,â its gross margin over the fourth weekend was over $ 196 million nationally.
Unfortunately, there are so many unanswered questions with streaming, like how to budget for productions, control piracy, give viewers what they want, and come up with new ideas for all that entertainment.
Hollywood has opened a Pandora’s Box. He’s released so many movies on streaming services that he forever changed the way audiences watch movies in the process. Now that the theater industry is back on its feet, the question is, will audiences who have become accustomed to the comfort and convenience of home streaming really be returning to the movies, this? which is a more expensive and time consuming viewing process? entertainment?
This is the answer the industry does not have. Still.
Noah Darling is in grade 12 at Garden Spot High School.