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Hollywood Is Facing an Existential Crisis

Direct To The Internet

Universal Studios took the bold step of releasing a new movie directly online, while also playing in a few theatres still open for business. This is being viewed as a pilot project by the entire industry, given the ticket price (USD 20) for online streaming availability for two days. This decision has prompted a furious response from theatre owners.

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Hollywood Is Facing an Existential Crisis

Hollywood Is Facing an Existential Crisis

https://www.theatlantic.com/culture/archive/2020/03/post-pandemic-future-hollywood/608620/

theatlantic.com

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Key Ideas

Going To the Movies

.. used to be a great experience, before theatres all across the globe got shut down due to the Pandemic. 

Now that all movie production is halted and new releases rescheduled or postponed indefinitely, the billion-dollar movie industry is in flux.

Direct To The Internet

Universal Studios took the bold step of releasing a new movie directly online, while also playing in a few theatres still open for business. This is being viewed as a pilot project by the entire industry, given the ticket price (USD 20) for online streaming availability for two days. This decision has prompted a furious response from theatre owners.

Return To Normalcy

The problem seems to be the public sentiment on returning back to theatres even when the global crisis is over. 

China has reopened some of the theatres and has implemented social distancing measures, but they are doing negligible business.

Old Magic

Due to lack of new movies, Chinese theatres are showing recent and classic blockbusters, something which can be replicated all across the globe to get people in movie halls, once they are safely able to.

The world is cautiously optimistic and it is in the best interest of the film industry and moviegoers that theatres reopen in a few weeks or months, showing the much-awaited new movies.

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