The Future of Movies
The Future of Movies
Digital Media has become the leader in the movie distribution world over the past 10 years, especially since the start of the Covid Epidemic in 2020 where consumers were forced to move away from traditional movie watching and search for alternatives in digital media. Movie streaming sites such as Netflix and Amazon prime have seen record growth in users and accelerated profits particularly during the Covid Period.
What does this mean for movie producers and distributors?
With the increase in digital media demand, movie producers have seen greater benefit in that they were able to take more ownership of their work and distribution without the need for intermediaries and 3rd party distributors. This of course had a negative impact on many of the traditional distributors as they find themselves cut out and left behind the times.
Changing with the times
This shift to digital media also presents an opportunity for distributors to utilise digital media and take advantage of the shift in the market. In addition the accelerated development of VR and web 3.0 technology opens doors for startups in the market to offer new and innovative services.
Marketing and public relations have embraced developments in data analytics and utilised the insights to develop more effective outreach campaigns. With the increased data available, communication experts are able to predict trends and isolated user groups and outlets which best suit their requirements enabling them to launch targeted marketing campaigns increasing effectiveness and reducing costs.
Where is the market going?
It's hard to predict where the market is going, but with the ever increasing investment in AR and VR it is likely that many producers will find themselves developing concepts that feed the consumers changing demands. Hollywood movie Ready Player One depicts a future life where people live within a VR world and it’s not unrealistic to say that this is probably the future of society although slightly exaggerated, therefore producers will most probably be creating movies and productions that can be incorporated into the VR metaverse with increased user engagement.