The movie industry, just like any other industry that has technology at its core, has changed drastically over the years. The Matrix trilogy was attributed to have ushered in one of the largest changes, technologically as well as creatively, in the worldwide film industry. Budgets have increased to gigantic amounts while the camera sizes have gone down even more rapidly. The cost-saving nature of yesteryear film making (mainly due to the cost of reels) have been replaced with studios shooting multiple versions of the same film just to keep the paparazzi guessing. Studios have to spend more on cybersecurity and anti-piracy measures than ever before.
While all this can be tuned to be advantageous for the industry, one trend that has got all the attention lately is the increasing viewership streaming platforms are getting. Even though the trendsetter was Netflix, the marketplace has been flooded with streaming platforms all over the world. Setting global players like Netflix and Amazon Prime apart, local and regional services have also cropped up around the world.
Now, many movie buffs and experts still cite the power of the experiential effect of going to the movies. While acknowledging the “experience economy” notion that underlies the movie business, the issue lies in the fact that the cost of a movie ticket keeps increasing while the basics stay the same.
One reason could be the global trend of large companies buying up smaller theatres to become a large consolidated venture. This opens up the possibility of a greater resource pool for the theatres but as a large company, it is hard to bring about change. By consolidating, the entrepreneurial spirit inherent in small-scale establishments are suppressed. This has affected the movie industry, as evident in the stoic experience theatres offer at high rates while other platforms offer dynamic experiences.
One unavoidable truth of the industry is that the sequel, prequel and spin-off genres of films are gaining more and more traction, as evident in the case of the Marvel and Star Wars films. The sheer visual and sensory excitement these provide is sure to keep the viewers coming back to films again and again. With the advancements being made in the technological arenas that affect filmmaking, predicting the future for the movie industry becomes more and more complex as time passes.