How will movies survive the next 10 years? This is the question the New York Times sought to answer in an article that gave voice to Hollywood figures. A few days later, the media outlet Indie Wire posed the same question to small film distributors. Opinions inevitably The future of cinema analyzed diverge. So, who has the most accurate view?
The digital takeover
Engine, it’s running! And more than once. The film industry has never brought night clubs bars email list in so much as in 2018. According to the report of the Motion Picture Association of America, the industry generated nearly $97 billion worldwide . The main growth factor is linked to the 16% increase in home viewing revenue for a subtotal reaching no less than $55.7 billion worldwide. This is an underlying trend since “since 2014, spending on digital has increased by 170% worldwide , while spending on physical media has decreased by 48% .” The number of subscriptions to SVoD services has also exploded. In one year, it increased by 27% for a total of 131.2 million subscriptions worldwide.
Cinema also plays a prominent role in the film industry, of course. Movie theaters alone generated more than €40 billion worldwide in 2018. However, the global trend is downward (-1%), while revenues increased by 7% in the United States and Canada. This is a strange paradox, given that there have never been so many movie screens in the world: 190,000, or 7% more than in 2017.
Hollywood in the grip of doubts
Hollywood is fully aware of the cold reality of the figures mentioned above. We even feel a current trends in virtual store kind of fear setting in. Director JJ Abrams said that “people used to say that the industry was changing. It’s undeniable now. It’s happening.” Jason Blum, producer of “Whiplash” and “Get Out,” even speaks of “nervous energy that grows every day . ” They worry about what will motivate people to go to the movies instead of watching Netflix at home . While “La La Land” producer Jordan Horowitz worries about what will become of independent films, director Joe Russo confides his fears about blockbusters since he had to “make ‘Avengers: Endgame’ in a darker way, which wouldn’t have been the case a few years ago . ”
To encourage people to go to the movies, Fox Searchlight executive Nancy Utley believes that it’s sale lead necessary to increase the selectivity of films and thus make a major leap in the quality of films shown in theaters. Actor Kumail Nanjiani is on the same wavelength, since according to him, a viewer will forgive Netflix much more for not liking a film in its catalog than a theater for going to see a bad one .
