The use of online streaming services during Covid led to a change in viewing styles. 2
Summary
The rivalry between movie theatres and streaming services is causing some to question the future of theatres. 3
Movie theaters had to shut down due to social distancing regulations, leading people to turn to online streaming to watch movies. 1
Movies Theatres vs Streaming Services
- Disney, Universal, and Warner Bros vs Netflix, Hulu, and Amazon.
- The global theatrical entertainment market of 2020 declined by 18% from 2019.
- The global theatrical revenue decreased by $9.2 billion.
- The number of streaming subscribers increased by 32%.
- Entertainment studios started releasing movies on streaming apps.
Decline of Theatres
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- Binge-watching: long periods of focused viewing
- Check out line binge
- Serial viewing: watching a series within a short amount of time
- Appointment viewing: live content or broadcast
Change in Viewing Styles
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- AMC lost $4.5 billion in 2020
- Cinemark and AMC closed all their theatres
- The atmosphere of theatres is special
- "Quantity over quality" for streaming services
- Hybrid future for movies
Rivalry
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Summary
While less people were going to theatres due to Covid, more people were subscribing to streaming services. Along with the streaming services, different types of binging increased during Covid years. This rivalry between theatres and streaming has caused some to question the future of movie-watching.
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