Is Streaming Killing Hollywood?
All signs point to cinema attendance being on the drastic decline. A report last year revealed that less and less people are going to cinemas, which could signpost a drastic change for the entertainment industry. As it stands, it has become less viable than ever before to create a blockbuster film that succeeds. So much so that acclaimed directors can no longer find the funding to make their films.
But what the cause for this decline is seems to be in some dispute. Most assume that streaming services such as Netflix are the cause, given their significantly cheaper, more convenient approach. This has been disputed by a recent report, which claims that the two services are not cannibalistic . But this report may just be a case of denying the obvious.
The Streaming Revolution
Ever since names like Netflix took to the headlines, there are few who haven’t become familiar with the concept of streaming online entertainment. From Bingo Australia, to YouTube, to Netflix and Amazon, there are thousands of hours of entertainment available, all at a highly affordable prices. Plus there are no restrictions on how this entertainment can be consumed. The consumer has never experienced such freedom and convenience.
Cinemas, on the other hand, struggle to remain viable. They are far more expensive, drastically less convenient, and have little to offer that competes with the online world. Except, of course, big screens. Though that is hardly impressive in a world of flat screen TVs that are cheaper than ever before.
So it stands to reason that cinemas are facing an inevitable demise.
One report, by Quantitative Economics and Statistics, claimed that streaming is not stealing customers from cinemas, but rather that the two feed each other. But given the clear reports of waning cinema interest, this seems to be nothing more than massaging numbers to paint a less grim picture. Or is it?
Though, there are certainly still some franchises that draw the masses to the cinema screens. Smash hits like the Marvel Cinematic franchise continued to see massive success. But these numbers are largely applicable only to the big name productions, with less mainstream productions tending to get overlooked, and ultimately seeing disappointing numbers. Even the supposedly bulletproof Star Wars franchise has seen its first flops, which goes to show just how fickle audiences can be.
So at the very least, even if cinemas don’t die outright, there is clearly going to be a revolution in the productions offered to the public.
A Shift In Strategy
So with Marvel films, the still going Jurassic Park films, and Star Wars now being the big earners, but with smaller franchises struggling, it seems that cinema may not die, but perhaps undergo a massive revolution.
Signs point to a shift in the types of films that are still viable at cinemas, rather than an outright death of an industry. In turn, streaming services are becoming far more viable for the smaller productions that can no longer draw an audience at cinemas. So reasonably speaking, it may be a shift that is better for everyone involved. Or at least those production companies that are willing to adjust to the times.