As time moves along, on-demand movie streaming services are fundamentally revolutionizing how viewers watch television. However, the notion that with more people spending time watching the vast array of content from notable streaming platforms, they will spend lesser time indulging in movie theatres is nothing but a myth!
In fact, movie distributors and theatre owners at CinemaCon, Las Vegas stated –
“There is no reason to fear the rising popularity of streaming movies through notable platforms like Netflix, Prime Videos, Disney+, Comcast, Apple, Warner Bros, and so on.
The key takeaway from all this is that Netflix (and co), even with its rapid global expansion, will still impose a minimal impact on box office releases, especially since there are lots of viewable content still being ideal for theatre releases.”
Take a Look at Some More Statistics
As per the recent data which broke claiming that there were over 45 million accounts in Netflix, nearly 1/3rd of its total streamed BIRD BOX, a Susanne Bier directed thriller film featuring Sandra Bullock. In the first week, it racked up nearly half of a billion pounds, which is an extraordinary feat as its face value.
Similarly, MARY POPPINS RETURNS easily topped its 1st two weeks at the UK box office with a whopping 7.4 million pounds. Closely following it was BUMBLEBEE (the transformer prequel) also notched up over 5 million pounds in the first week from approximately 700,000 viewers, respectively.
This somewhat gives you a clear picture of the resounding success, which movie streaming has on cinephiles. But that’s not all. Most subscribers either streaming gratuit/(free) from respective sites or subscribing to notable platforms want premium shows along with quality movies which they either can’t or won’t get easily anywhere else- especially in movie theatres.
And that could possibly explain the immense rise in popularity and favouritism towards such streaming platforms more.
Owing To Its Stellar Growth, Movie Streaming Will Boom In The Coming Months & Years…
Perhaps one of the biggest catalysts of such movie streaming platforms, also known as OTT service, is the convenience it provides. Viewers can subscribe and cancel anytime they want. Plus, the content (both the existing and fresh ones) will always be available for them to watch if they choose to. Plus, they can watch it anywhere, anytime, and from any device. Such conveniences have certainly proven convenient for countless movie buffs- more so the younger generation.
In addition to the convenience, these streaming platforms charge relatively manageable monthly subscriptions in comparison to cable networks, DVDs, cinema hall tickets, or other usual distribution channel services.
And most importantly, these platforms offer a wide variety of engaging content- featuring a selection of trending movies, hottest web series, documentaries, and much more. Plus, in order to stand apart from the theatre viewing competition, popular platforms like Netflix, Prime Video, HOTSTAR, and more have even moved into their own content production.
They produce more exclusive ORIGINAL content for their respective subscribers and make it available to them frequently one-after-another on their accounts. So the premium content which used to be distributed through movie theatres or other TV channels is readily available for viewers to watch on their accounts whenever and via whichever device they choose.
Add to the fact that this pandemic lockdown period, which made it mandatory for people to stay quarantined, substantially contributed to accelerating its demand and importance.
Considering how much streaming gratuit (free)content or subscribing to a platform to enjoy on-demand viewing has risen in the last few years, it is only safe to presume that the long-term prospects of streaming movies seem very bright.
The future of media is most certainly streaming engaging viewable content. That said, the impact of theatre watching will not diminish. This year, due to the dire economic consequences of the COVID 19 crisis, theatrical movie watching has taken an unwanted drop in popularity.
But in time, the popularity and trend of watching big releases in theatres will eventually rise. And cinephiles will surely flock to their nearest theatres to enjoy their favourite flicks just like before.