Are Streaming Services Really Killing The Cinema?
There are a total of 11.3 million Netflix subscribers in Australia as of February 2019. This means that the US-based streaming service provider already has a huge share in the country’s entertainment market. This and other streaming services allow Australians to binge-watch their favourite TV series, like the highly-anticipated second season of Mindhunters. While many people might think that streaming services are killing the cinema industry, there is evidence that these on-demand film and television services could actually help the entertainment industry.
Streaming Services Help the Cinema Attract More Audiences
Based on a recent study conducted by Ernst & Young, audiences who often watch movies at the cinema also stream more movie and TV series. This is in comparison with those who do not watch movies on a regular basis. Particularly, those who visited cinemas at least nine times during the last 12 months also streamed an average of 12 hours per week using their smart TV box and streaming service apps. Meanwhile, almost half (49 percent) of those who did not watch a movie at the cinema in the same period did not also stream any online content.
Surge In Cinema Advertising
An analysis by marketing professor Mark Ritson suggested that internet advertising’s popularity is starting to slow down. This is good news for the cinema industry. Based on his prediction, Ritson believed that the emerging ad channel in 2020 will be non-digital. This demonstrates that the big screen remains to be a powerful advertising medium due to its strong audience appeal and effect on their emotions.
Other research claimed that the changes in the advertising dynamic are affected by the cinema’s capacity to provide what marketers need to be successful in advertising campaigns. Most of this occurred as a result of the uncertainty caused by stricter data privacy legislation. Also, researchers predicted that cinema advertising could reach double-digit growth because it allows marketers to achieve positive business results and brand growth.
More Breaks For Budding Filmmakers
At the Screen Makers Conference held in Adelaide, film producer E. Bennett Walsh discussed the importance of online streaming services to the movie industry. He said that the popularity of this medium lets more filmmakers showcase their craft. The Kill Bill Vol. 1 and 2 producer claimed that streaming service companies are investing in more content, which will create a market for more filmmakers to come up with new films. This also creates an opportunity to feature more places in different parts of the world and provides career opportunities for locals in these filming locations.
Streaming services can exist without hurting the cinema industry. In fact, they can actually work hand in hand to uplift each other.
