What do
you think is the most important trend that is cutting across all media
industries and having the biggest impact on both professionals and users/consumers?
*Note: For the final blog posting, you must still use
three readings to support your responses. They can be from any point in the
semester and they must be assigned readings for the class (no additional
outside article/source required). Limit: 10 responses
Sophia Toppo
ReplyDeleteBlog 9
An overall important trend that I think reaches all media platforms has to do with this whole “direct-to-consumer” streaming service. This has definitely been an evolving trend in the past and is currently an essential trend due to the coronavirus. As technology and media are evolving, new ways of consuming media are developing and having easy access to media has been a very attractive factor. Streaming has been very prevalent across all media industries from film, television, music, and social media.
In the film industry, it is clear that there has been a decrease in presence in movie theaters. With the prices of tickets and concessions, it does not always seem worth it to go to the theaters. Streaming services like Netflix and now Disney Plus offer a large variety of classics and originals for people to enjoy in the comfort of their own home. And with only a monthly charge, it is definitely worth it compared to the ticket prices of theaters. While some movies do generate a large box office gross revenue, it is due to the hype revolving around the release and the film itself. There are just some other films that are not worth seeing in theaters. Now with the recent corona outbreak and people are forced to stay at home, streaming has been thriving. Streaming services are also releasing new movies that were supposed to premiere in theaters. For example the new Trolls World Tour movie was going to premier soon, but as theaters are closed down, Universal has decided to stream the movie to audiences for $19.99. This has never been done before and an article in Variety explains, “It’s possible that “Trolls World Tour” could be the impetus for a new theatrical model, but industry experts suggest the decision is more likely a unique response to the rare circumstances”(Rubin, 2020). With streaming becoming such a popular trend, this may lead to a new strategy for the film industry.
Streaming television shows has also been very popular. With such a large variety of streaming services offering such a large variety of old, new and original television shows, people are moving away from broadcast and cable television. Streaming tv shows is so appealing because you can watch as many episodes as you want, and you don’t have to watch in order. The consumer has all of the control. An article in the Hollywood Reporter stated, “Bingeing is very pro-consumer and very hard to move away from"(Jarvey, 2019).
DeleteStreaming is also supper relevant on social media. Influencers on Instagram, Facebook, or Twitter can live stream, and this creates a more transparent relationship with their audience. Having media that is instantiations and direct to the audience has been very affective for entertainment purposes and also expands brand awareness. Especially now during the coronavirus pandemic, “Influencers are starting to switch up their revenue strategies, focusing on long-term bets like direct-toconsumer businesses or alternative revenue streams like consulting, teaching, and coaching”(April, 2020).
Overall, I think that streaming and having easy accessible media has been a very important trend in all industries.
Jarvey, N. (2019). Streaming TV’s Battle of the Binge: ‘Burn’ All Episodes of Take a ‘Weekly Pulse’? The Hollywood Reporter. Retrieved from: https://www.hollywoodreporter.com/news/streaming-tv-dilemma-binge-burn-episodes-plot-weekly-pulse-1257248?utm_source=Sailthru&utm_medium=email&utm_campaign=THR%27s%20Today%20in%20Entertainment_2019-11-26%2007:09:00_aweprin&utm_term=hollywoodreporter_tie
Perelli, A & Dan Whateley. (2020). How the coronavirus is changing the influencer business, according to the marketers and top Instagram and YouTube Creators. Business Insider. Retrieved from: https://www.businessinsider.com/how-coronavirus-is-changing-influencer-marketing-creator-industry-2020-3
Rubin, R. (2020). ‘Trolls World Tour’ Straight to Streaming – Sign of the Times or the New Normal? Variety. Retrieved from: https://variety.com/2020/film/news/trolls-world-tour-streaming-theatrical-window-future-1234573263/
Cooper Brown
ReplyDeleteI think the most important trend that is cutting across all media industries is just how direct content producers can be with consumers. What I mean by this is that the speed and accessibility of content consumption is going to be crucial over the next few years. With the current COVID-19 pandemic film studios are finding ways to get films out while people are practicing social distancing. However long this goes I could see these types of releases becoming more and more popular over the years as “Trolls World Tour” lands on home entertainment platforms on Friday, it’ll mark the first major studio movie to skip its planned traditional theatrical release since the coronavirus outbreak forced cinemas to close” (Rubin). If this release goes well for Universal I could definitely see this becoming a more common practice. These types of releases allow you to extend to a wider audience in a shorter amount of time. Theatre attendance is already on the decline and I think we could see it decline even more if at home releases do well. The CoronaVirus outbreak has almost given studios a free trial to try these releases. Streaming has already started to pass theatres in popularity due to convenience. With “Disney+ surpassing the 50 million paid subscriber milestone globally” (Jarvis) in less than a year it really shows just how much streaming has taken over. We have already seen this becoming prevalent in the music industry and I think it will start to change with the film industry. The convenience of streaming will start to become a mainstay in almost every form of content consumption. This is going to directly affect the hollywood industry because studios will need to figure out how to make their movies suitable for a theatre and a home release at the same time. It will also continue to affect the box office as people will stay home and just stream movies. It has definitely had an effect on Hollywood and the COVID-19 crisis has made it even more prevalent. Jason Blum, producer of ‘Get Out,’ was quoted for the New York Times saying, “I’ve never felt the nervous energy in Hollywood that I’ve felt over the last 12 months, and it increases every day. There’s an uncertainty about the future, because the change is happening in an incredibly dramatic way” (Brown). These unprecedented times going on in the world have forced many industries to adapt their business models to survive during this. Film studios have begun to do this as well and I think if it turns out to be successful we could see more film studios doing this for the near future. The pandemic might have unintentionally ushered in a new era of content consumption especially in the film industry.
Works Cited:
DeleteBrown, Alyce. “How Streaming Is Affecting the Film Industry.” Spartan Shield, spartanshield.org/20634/arts-entertainment/how-streaming-is-affecting-the-film-industry/.
Jarvey, Natalie. “Disney Hits 50 Million Paid Subscribers.” The Hollywood Reporter, 9 Apr. 2020, www.hollywoodreporter.com/news/disney-paid-subscribers-hit-50-million-milestone-1289448?utm_source=Sailthru&utm_medium=email&utm_campaign=THR's Today in Entertainment_2020-04-09 07:30:00_aweprin&utm_term=hollywoodreporter_tie.
Rubin, Rebecca. “'Trolls World Tour' Straight to Streaming - Sign of the Times or the New Normal?” Variety, Variety, 9 Apr. 2020, variety.com/2020/film/news/trolls-world-tour-streaming-theatrical-window-future-1234573263/.
Brent Costantino
ReplyDeleteI believe that the most important trend cutting across media industries, and having the largest impact on consumers is the growing amount of streaming services/competition between corporations. Streaming services such as Netflix, Hulu and Amazon Prime have now been around for a few years, and they have cemented themselves as the leaders in streamed programming. Existing companies such as Disney, CBS and HBO have just begun to jump on the streaming service train and create their own platforms. Disney has formed Disney+, HBO Max is coming out this May and CBS All Access is now active. The trend that this large companies are following is to organize as much of their own content on one platform as possible. Having a streaming service provides one more revenue source for these production companies, and satisfies consumer’s growing needs to consume entertainment from the comfort of their own home. Erik Hayden of The Hollywood Reporter writes, “Amid a novel coronavirus pandemic that has caused economic insecurity across industries, more consumers may have to make tough choices about what entertainment options are essential to their household, especially in the ever-growing streaming TV space.” The pandemic has definitely amplified the need for streaming content, and has made the subscribed content trend more relevant than ever before.
The apparent new normal for movies in the midst of the coronavirus pandemic is to skip their intended theater releases, and be placed right onto a streaming service. Rebecca Rubin of Variety writes, “When Universal’s ‘Trolls World Tour’ lands on home entertainment platforms on Friday, it’ll mark the first major studio movie to skip its planned traditional theatrical release since the coronavirus outbreak forced cinemas too close.” Streaming services have proved themselves to be essential and more prominent than ever before during this crisis. Without easy access to entertainment through streaming platforms, many people would not have the opportunity to view new content. Movie theater box office numbers are going to suffer tremendously over the course of 2020, leaving some to ponder the future of the business as a whole. Pamela McClintock of The Hollywood Reporter writes, “North American box office revenue will struggle to hit $7 billion for the year, the lowest figure in more than two decades and nearly 40 percent behind 2019 ($11.4 billion), per London-based research firm Gower Street Analytics.” Streaming has become such a large trend across the entertainment industry because of the convenience that it provides for consumers. In the age of social media, consumers are used to receiving entertainment at their fingertips. Streaming platforms for TV/film, music or podcasts have become the new normal due to the fast-paced nature in which we currently receive content. Streaming platforms have become the new normal, and I believe that this pandemic proves the current trend of streaming content to more valuable than ever before.
Works Cited
DeleteHayden, Erik. “HBO Max Tops Peacock in Viewer Interest Ahead of Streaming Launches.” The Hollywood Reporter, 31 Mar. 2020, www.hollywoodreporter.com/news/hbo-max-tops-peacock-viewer-interest-streaming-launches-1287499?utm_source=Sailthru&utm_medium=email&utm_campaign=THR%27s%2BToday%2Bin%2BEntertainment_2020-03-31%2B07%3A15%3A00_aweprin&utm_term=hollywoodreporter_tie.
McClintock, Pamela. “Box Office's Best Case Scenario? Down 40 Percent.” The Hollywood Reporter, 8 Apr. 2020, www.hollywoodreporter.com/news/box-offices-best-case-scenario-down-40-percent-1289032?utm_source=Sailthru&utm_medium=email&utm_campaign=THR%27s%2BToday%2Bin%2BEntertainment_2020-04-08%2B07%3A40%3A00_aweprin&utm_term=hollywoodreporter_tie.
Rubin, Rebecca. “'Trolls World Tour' Straight to Streaming - Sign of the Times or the New Normal?” Variety, Variety, 9 Apr. 2020, variety.com/2020/film/news/trolls-world-tour-streaming-theatrical-window-future-1234573263/.
The year is currently 2020, the situation is currently in a pandemic, and the world is currently quarantined to avoid contamination from the deadly COVID-19 sickness. However, business must continue to try and operate during these times and adapt to this environment in order to stay on top of their competitors if possible. Professionals do their best to showcase their talents in front of a camera for the world to see and to garner the attention and support of millions. Because it is 2020, and technology is continuing to develop itself into bigger and better things, something has to be said about the trend that benefits professional workers and consumers/users the most. One word comes to mind thinking about this, and that word has to be the power and binding of streaming.
ReplyDeleteStreaming comes in different forms and serves one major purpose, to allow users and consumers worldwide to access their favorite content on-demand and at will from their smartphones, tablets, or computers for generally a monthly subscription charge. No matter the purpose, whether it be music streaming or streaming TV shows, it has become somewhat of a norm for the general consumer to invest in one of these categories of streaming as it provides more benefits than tradeoffs. For example, a benefit to TV streaming is the amount of people that have gained interest in the product. The Hollywood Reporter recently sent out an article stating that “Following its Nov. 12 launch, streaming service Disney+ has surpassed the 50 million paid subscriber milestone globally” and that “By reaching the 50 million milestone, Disney+ has shot past corporate sister service Hulu, which has more than 30 million subs. It still has a ways to go to catch streaming giant Netflix and its 167 million subs” (Natalie Jarvey). Between these 3 companies, there are roughly 247 million subscribers that are interested here, which is a very big number considering the growing exposure.
If we are discussing the music industry, the numbers are still up there, but in different ways of streaming. Music streaming involves players like Apple Music, Spotify, Soundcloud, Google Play, YouTube (for Music Videos as well), and Amazon who all have been able to attract attention to millions of music listeners globally. To give a stat that is definitely eye-opening, in a 2019 research, posted on Rolling Stone, "For the first time ever, on-demand streams in the U.S. reached over 1 trillion, according to a year-end report from Alpha Data" (Emily Blake). That’s right. 1 trillion streams overall, meaning that listeners use this platform to hear their favorite artists or new artists on the block that want to make a name for themselves. Forbes summarized it the best by saying that "Listeners are now able to sample music of all genres widely and quickly, creating an environment in which young people can invest much less energy into a single artist than Boomers did" (Neil Howe).
The point here is that for professionals, their content can only go so far on the right platforms and, especially considering the world’s current state of quarantine, streaming is their best friend as a way to broaden the horizons of actors, directors, producers, artists, bands, and more entertainment roles. Staying at home is becoming more common at this time, and those numbers were obtained before people were asked to stay home. If more people and consumers stay home, streaming will be the bridge between users/consumers and professional talent to bring smiles to consumers for the content and to professionals for the exposure and fandom that can come.
Blake, Emily. “Music Hit 1 Trillion Streams in 2019, But Growth Is Slowing.” Rolling Stone, 9 Jan. 2020, www.rollingstone.com/music/music-news/streams-music-2019-trillion-vinyl- 935246/.
DeleteHowe, Neil. “How Music Streaming Won Over Millennials.” Forbes, Forbes Magazine, 16 Jan. 2019, www.forbes.com/sites/neilhowe/2019/01/16/how-music-streaming-won-over- millennials/#7bbecde825c7.
Jarvey, Natalie. “Disney+ Hits 50 Million Paid Subscribers.” The Hollywood Reporter, 9 Apr. 2020, www.hollywoodreporter.com/news/disney-paid-subscribers-hit-50-million-milestone-1289448?utm_source=Sailthru&utm_medium=email&utm_campaign=THR%27s%2BToday%2Bin%2BEntertainment_2020-04-09%2B07%3A30%3A00_aweprin&utm_term=hollywoodreporter_tie.
COVID19 has totally disrupted any semblance of normal life for billions of people around the globe. With the majority of the population (at least in the United States) staying at home in lieu of school or work, hundreds of industries are now tasked with figuring out how to navigate this new market. For media and entertainment companies, I think the biggest trend going forward in 2020 (maybe “challenge” is the better word) is figuring out how to continue giving consumers the content they want and expect—while still being able to make money off of it.
ReplyDeleteMovie theaters and cinemas are one of the first that come to mind in this scenario. Forced to close upon the implementation of social distancing, they’re taking huge losses every day that passes without customers. A recent Hollywood Reporter article claimed that even if theaters nationwide only have to close for 2 months (a best case scenario), it’d still “put revenue in the $7.09 billion to $6.82 billion range”—the lowest since the year 2000 (McClintok). Closing for 3 months, perhaps a more realistic time frame, would bump that number down closer to $6.36 billion (McClintock). Long term, it’s unsure if all 5,400 theatres across the country will be able to permanently re-open, even when life returns to normal. So, the problem is then shifted to Hollywood: what do they do with the films they’ve already made, and how do they go about distributing future ones?
Universal Studios has already jumped to test out a new plan for such a scenario, by releasing Trolls: World Tour on home entertainment platforms for immediate viewing, rather than waiting to release it in theaters— “the first major studio movie to skip its planned traditional theatrical release since the coronavirus outbreak forced cinemas to close.” (Rubin). The risks, though, remain fairly high: with a rental price of $19.99, experts wonder if “people — most of whom likely already subscribe to at least one streaming service — might be unwilling to part with cash during a time of massive global uncertainty.” (Rubin). However, considering that $20 can sometimes be nearly the price of a single ticket at an in-person theater, this strategy may seem worth it for the public were this to become the new normal. In fact, after Universal’s decision, other studios followed suit: Paramount “sold romantic comedy “The Lovebirds” to Netflix,” and STX “siphoned off action adventure “My Spy” with Dave Bautista to Amazon Studios.” (Rubin). We even saw similar tactics with Disney, who decided to skip the theatrical releases of both Frozen II and Artemis Fowl by putting both films directly on its streaming platform, Disney+; in the case of Frozen, “three months earlier than anticipated... meant to help families ‘during these challenging times’” (Travers).
DeleteFrom what I can tell, it seems like the days of brick-and-mortar movie theaters may be ending. While giants like AMC might be able to stay afloat, any non-chain theaters (such as my local theater, simply called “South County Cinema 8”) probably won’t be able to recover from the losses incurred from the pandemic—especially if it extends anywhere into the summer, a prime box office season. I think the biggest trend for movie companies will have to become direct partnerships with established streaming services. Studios will align with certain platforms, and agree to sell their movies to them rather than wait the traditional 90 days (to allow box offices to make a profit). After all, right now streaming is king; immediate access is key for audiences now trapped at home, and since live tv production has mostly stopped, “deep libraries of licensed content are looking more important than ever.” (Travers).
Only time will tell, of course, which companies make it out alive from this mess. No matter the specifics, though, I think it’s clear the movie landscape will have to change dramatically.
Works Cited:
McClintock, Pamela. “Box Office's Best Case Scenario? Down 40 Percent.” The Hollywood Reporter, 8 Apr. 2020, www.hollywoodreporter.com/news/box-offices-best-case-scenario-down-40-percent-1289032?utm_source=Sailthru&utm_medium=email&utm_campaign=THR%27s%2BToday%2Bin%2BEntertainment_2020-04-08%2B07%3A40%3A00_aweprin&utm_term=hollywoodreporter_tie.
Rubin, Rebecca. “'Trolls World Tour' Straight to Streaming - Sign of the Times or the New Normal?” Variety, Variety, 9 Apr. 2020, variety.com/2020/film/news/trolls-world-tour-streaming-theatrical-window-future-1234573263/.
Travers, Ben. “Streaming Wars: Which Companies Are Built to Endure Coronavirus Delays?” IndieWire, 15 Mar. 2020, www.indiewire.com/2020/03/streaming-wars-netflix-hulu-coronavirus-delays-1202217651/.
All of the topics and ideas we discussed through the semester have really energized me and given me a great understanding of the modern media landscape we occupy. Now, facing the midst of a global pandemic, what still survives is our digital communication and online presence. Our lessons in class, along with an unprecedented change in behavior and social practices on a worldwide scale, has opened my eyes on just how important and what an advantage we have with our digital communication platforms and technologies. Our social and economic activities are currently substituted with digital activity, including our ability to work from home and make online purchases when it is dangerous to go outside. I am surprised as to just how fast and flexible we are with modern technology to substitute parts of our physical lives with digital ones. Creating digital alternatives to physical, in-person activities and connectivity may prove to be a driver during this pandemic for new online “normals” as well as integrating many new people in the country that have not fully embraced digital communication platforms or tools.
ReplyDeleteThe older generation who has to adapt to working at home is facing brand new challenges of adapting and learning new technologies, even just getting used to using the internet and video calling may be a challenge for them. It is a good thing that we all are getting up to speed with the use of digital communication, for those who have not already. In the coming months ahead, the focus on digital communication will be even greater and essential for us as a society to still function in this new normal we all are facing. What is very interesting is seeing how digital trends have evolved since social-distancing started. From the Billboard article “Coronaraving: The Business Behind DJ Livestreams,” it discusses how many of the younger generation is turning to live streaming in replacement of social activity; attending a cocktail party thru Zoom or tuning in to a livestream DJ are just a couple of all the creative ways we are responding to isolation in a time of uncertainty and anxiety. The Variety article, “'Trolls World Tour' Straight to Streaming - Sign of the Times or the New Normal?” explores the new availability of streaming movies in-theater in the comfort of your home. More options for consumers to watch what they want, the way they want to is in my opinion a good investment in rising digital trends. Lastly, from the Hollywood Reporter article “How Big Is the Stay-At-Home TV Spike? Significant, for Now” shares information that describes a large spike in at home TV watching during social distancing. Between the huge rise in consumers joining streaming services, watching live television and playing video games brings an entirely new audience to these platforms, which shows that digital communication really does stand as the last bastion of humanity during a quarantine and pandemic of this caliber.
McCarthy, Zel. “Coronaraving: The Business Behind DJ Livestreams.” Billboard, 9 Apr. 2020, www.billboard.com/articles/news/dance/9354526/coronavirus-dj-live-streams-business-money?utm_campaign=Daily&utm_medium=email&utm_source=Sailthru&utm_term=daily_digest.
Rubin, Rebecca. “'Trolls World Tour' Straight to Streaming - Sign of the Times or the New Normal?” Variety, Variety, 9 Apr. 2020, variety.com/2020/film/news/trolls-world-tour-streaming-theatrical-window-future-1234573263/.
Porter, Rick. “How Big Is the Stay-At-Home TV Spike? Significant, for Now.” The Hollywood Reporter, 26 Mar. 2020, www.hollywoodreporter.com/live-feed/how-big-is-stay-at-home-tv-spike-1286624.