The largest premium video on-demand service is Netflix, with approximately 220 million memberships globally. In 2015, 52% of US consumers had subscriptions to one or more streaming services this increased to 78% by late 2021, highlighting the incline in demand. More and more people are subscribing to streaming services, allowing them to become a dominating social power in recent years. Thus, some may see the growing preference for streaming services as a positive change - making movies more widely available and accessible for everyone. One of the key factors of this is price: The average price of a ticket to see one movie at the theater is $11 while the price for a basic monthly Netflix subscription is $9.99. The decreasing demand for movies to be shown at theaters is due to many preferring the more cost-effective, comfortable choice to watch movies at home. The results of this showed that 41% of respondents rarely go to see a movie at the theater. Between April to May 2022, an online survey with 2,210 respondents was carried out regarding the popularity of movie theaters. However, no other alternative has had as devastating an impact to the success of movie theaters as that of streaming services, enabled by their growing popularity and power. 20 years later, in 1997, DVDs made further progress in enticing viewers to stray from theaters - with greater accessibility at home of a better quality and wider range. The idea of watching movies from one’s home was seen as revolutionary at the time. Introduced in 1977, VHS was the first step in straying from the long-term pastime of going out to the theater. However, by June 2020, the percentage of adults strongly preferring to go to the theater plummeted to 14%, with 36% preferring to stream movies. In 2018, 28% of people strongly preferred to watch a movie for the first time in movie theaters, with only 15% preferring to stream it. Whilst streaming services have been available since 2005, beginning with the founding of YouTube, their popularity has increased more steeply in the past few years. It’s important to ask: Does this show how technology is killing the traditional industries of society - or rather, does it have beneficial, innovative impacts on accessibility? This reduces the number of people who go to movie theaters to see the latest films and damages the industry irrevocably. Over the last decade, interest in going to movie theaters has been decreasing as a direct effect of the growing popularity of major streaming services, such as Netflix and Amazon Prime. For more from Parrot Analytics, visit the Data and Analysis Hub. Apple may be calculating that it can drive similar buzz by keeping movies in theaters longer - even if its films don’t all bring home Oscars.Ĭhristofer Hamilton is a senior insights analyst at Parrot Analytics, a WrapPRO partner. However, the movie ultimately reached its highest levels of demand in the lead-up to and following its Best Picture win at the Academy Awards. Initial demand for the movie following its day-and-date release in theaters and on Apple TV+ was muted, lagging the performance of other Apple movies. “CODA” may be a more instructive example of the value of being part of the conversation. Apple TV+ movie demand, days after release, U.S. The scale of Apple’s reported investment in theatrically releasing its movies certainly suggests that the company thinks it has something to gain by it. What this doesn’t answer is whether these movies’ limited theatrical release ultimately laid the foundation for them to go on and be successful on Apple TV+. Their initial limited theatrical releases did little to attract audience attention and it was only after becoming available to stream that they reached their potential. In the cases of “Sharper” and “The Tragedy of Macbeth,” both films hit peak demand only after becoming available on Apple TV+. There’s some evidence that a limited theatrical release doesn’t deliver the benefits of a wide release. One question is whether to go wide with a release or stay limited.
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