A new report says people in the movie business are “scared stiff” — and for good reason. The report by Variety says “there is mounting anxiety among theater owners, studio executives, filmmakers, and cinephiles that the lights may be starting to flicker.”
The report cites changes in consumer tastes and demands, noting that Hollywood is doing what it can to adapt.
“Instead of surrendering to existential dread, studio chiefs and exhibitors are showing a greater willingness to experiment, particularly when it comes to releasing movies in the home within weeks of their theatrical debut for between $30 and $50 per rental,” Variety reports, adding: “If that comes to pass, it would represent the biggest distribution and exhibition shakeup since the introduction of the DVD created a home-entertainment windfall in the late 1990s.”
The report notes that some industry watchers remain skeptical about Hollywood’s ability to adapt. “Structurally, these studios and the agencies and exhibitors that orbit them are too sprawling, too slow-moving, and too entangled in a dizzying web of antiquated business practices and associations to respond effectively to the digital era,” Variety reports.
We encourage readers to click here to read Variety’s full analysis.