Theatres were dying before covid. People can get a better experience from home for less money. This is one of those things covid helped speed the death of up. Just like distributed working for those who have jobs that can be done remote offers better productivity with lower costs to employers and workers. Those businesses that fail to adapt will be brought into the future kicking and screaming or just fail to adapt and die off.
You are incorrect that the future of entertainment is an endless, perpetual feed of on-demand home video. It is completely unsustainable. The streaming model peaked during the global quarantine and is now in freefall. You will never have as many people watching TV at the same time again. There was literally almost nothing else to do. The reason why David Zaslav is butchering the MAX catalog, Netflix is cracking down on password sharing, Disney+ and Hulu are set to merge, Paramount is on the verge of a total shutdown, Apple and Prime are canceling shows left and right, and Peacock is seeking a lifeline is because these services existed to thrive during a pandemic. The shutdowns are over and people are going outside again.
You are correct that the studios’ major theatrical releases are flopping this summer and that multiplexes are suffering: The failure of Indiana Jones and The Flash are a testament to Hollywood’s greed, bloat, and hubris. But spend some time in New York, LA, Portland, Chicago, and more and you will find dozens of repertory and revival theaters selling out classic movies every single night with enthusiastic crowds. People want affordability and quality. And they want to leave their homes and enjoy entertainment with their communities.
Theatres were dying before covid. People can get a better experience from home for less money. This is one of those things covid helped speed the death of up. Just like distributed working for those who have jobs that can be done remote offers better productivity with lower costs to employers and workers. Those businesses that fail to adapt will be brought into the future kicking and screaming or just fail to adapt and die off.
You are incorrect that the future of entertainment is an endless, perpetual feed of on-demand home video. It is completely unsustainable. The streaming model peaked during the global quarantine and is now in freefall. You will never have as many people watching TV at the same time again. There was literally almost nothing else to do. The reason why David Zaslav is butchering the MAX catalog, Netflix is cracking down on password sharing, Disney+ and Hulu are set to merge, Paramount is on the verge of a total shutdown, Apple and Prime are canceling shows left and right, and Peacock is seeking a lifeline is because these services existed to thrive during a pandemic. The shutdowns are over and people are going outside again.
You are correct that the studios’ major theatrical releases are flopping this summer and that multiplexes are suffering: The failure of Indiana Jones and The Flash are a testament to Hollywood’s greed, bloat, and hubris. But spend some time in New York, LA, Portland, Chicago, and more and you will find dozens of repertory and revival theaters selling out classic movies every single night with enthusiastic crowds. People want affordability and quality. And they want to leave their homes and enjoy entertainment with their communities.