Signage for the AT&T WarnerMedia HBO Max streaming service. Picture: GABBY JONES/BLOOMBERG
There have been signs for awhile that Hollywood was experimenting more with direct-to-streaming for big-budget movies, but Warner Bros’ announcement that it would release all of its films on HBO Max in 2021 at the same time they go to theatres shows that the new era is here. This may represent the end of the movie-theatre industry as we are used to, but represents an opportunity for cities.
The music industry has figured out its own hybrid model to replace the dominance that compact discs had a generation ago. While CDs and other formats of recorded music still exist, most of the music industry’s revenues are generated through a mix of live events such as concerts and festivals plus streaming services such as Spotify and Apple Music.The future of movie distribution will probably have parallels to what we have seen in books and music.
Going to a movie will become a big deal akin to going to a sports game or a concert. And most likely, these venues will be in cities or large metro areas with a big enough customer base to support these types of venues.
It's about time...Movie Theaters are expensive.. The popcorns price is rediculous.
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