COVID-19 has had a significant impact on every industry. The movie industry, especially theaters, are among the most affected. Due to the stringent measures and guidelines to prevent the spread of the coronavirus, people can no longer go out to movie theatres to enjoy their favorite films. The movie halls are no longer safe to go to, and people have to look for other alternatives to keep themselves entertained at home.
The Rise and Rise of Streaming Services
COVID has been an opening eye for movie theaters that they should focus on developing direct-to-consumer streaming services and invest in the production of quality content. Since people can no longer go to movie cinemas to watch the latest box office movies due to the ongoing pandemic, we have opted for other means of accessing the movies. Streaming services have enjoyed a massive surge in users due to their ability to deliver great movies to people at the comfort of their homes.
The movie theaters that will survive this pandemic are the ones that are willing to reinvent themselves and develop or release their movies via streaming services. The movie landscape has forever been altered, and money will no longer be made based on tickets sold but by the number of views a movie gets.
Also, given the abrupt cessation of frequenting movie theatres, movie makers have been forced to develop movies that are years ahead of their release date. This will ensure that even if people cannot visit cinema halls, they still have some good films to release. When it comes to the movie business, there has been a total overhaul of the status quo. A good example was the release of the Wonder Woman movie both in theatre and via streaming services only days apart from each other. Before the pandemic, such a move would have been catastrophic for any movie house. However, Covid-19 has forced this trend to become the new normal going forward.