For more than a year now, the covid pandemic has not stopped wreaking havoc. The whole world is almost at a standstill and that many consequences in several areas.
What about the cinema
For several months now, movie theaters and festivals around the world have been closed or postponed. Film releases have also been subject to disruptions, between postponements and cancellations in some cases. It is therefore quite normal that the world box office has experienced a drop of more than a billion dollars. The stock of movie theaters has also dropped impressively. Several film productions have also been postponed or cancelled altogether.
In fact, The Eight Hundred, the highest-grossing film of 2020, earned $468 million worldwide. This is the first time since 2007 that the highest-grossing film of a given year has earned less than a billion dollars. That is how many times the crisis has had a huge impact on the film world.
On the other hand, streaming has experienced a huge boom during this health crisis. Due to the closure of movie theaters, more and more movies and series are being released on streaming platforms. In the United States, for example, Warner Bros announced the release of its 17 films including the blockbuster Dune and Matrix 4 on streaming.
What is streaming
To better understand the subject, let's know what streaming is.
Streaming is used to view or listen to online content. This protocol allows the instant playback of videos and music directly in the web browser without having to download it. Yes, Netflix, Amazon Prime or Disney are streaming platforms.
This new trend may disrupt the film economy, which used to be based mainly on the sale of films and revenues from theatres, which have been closed for some time now.