Impact of Covid-19 brings in a lot of changes in the film industries and audience

Movies are one of the greatest revenue creators. Considering any country, this statement will be true. Last year global box office’s revenue was a sum of around $42 billion, which was an all-time high number.

Over 400,000 American businesses and more than 2 million jobs are maintained by the Hollywood film industry. A worth amount of 60 million Euro was invested to the UK economy by the British film and TV.

Due to the impact of Covid-19, people show a discomfort in entering into a theater for a movie. Thus, the preference of theater decreased and other platforms like the Streaming Video on Demand (SVoD) is now getting more viewers.

Platforms like Netflix, Amazone Prime and others are now capable of acquiring movies which are not made my huge production houses. They also release the movie directly to the subscribers and thus they cut off the chances of the intermediate people.

Releasing movies directly to the people cut off the box office collections and satellite rights, which were two massive source of income generator for the producers.

The SVoD services never go for a single ticket sale, and such movies or series are not appreciated by these platforms.  They want recurring subscriptions and program sponsors which produces much more value.

Though most of the people might not think of these areas, they used to make use of this particular business when they are in for a movie. The snacks and drinks that serves within the theater was a good business for owners of the cafe as well as the theater owners. As the SVoD releases movies and shows directly to the audience they could sit at home and watch the movie.

As online platforms extends their market, a huge revenue source for the respective industries and countries will disappear. But at the same time people could create and release their own movies with a lesser cost.

Like this Covid-19 pushes a lot of traditional business out of the track and pulls in new changes. Time will prove how long these new changes will go and how long the old style remain without fading out.