The Future of the Film & Television Industry After Covid
The onset of the COVID-19 pandemic in March last year created a significant disruption in the entertainment industry. For most people associated with the film and television industry, life as they knew it came to a complete and abrupt halt. With cinemas and movie theatres shut down, concert halls closing their doors, and production delayed indefinitely, the multi-million dollar entertainment industry was brought to a standstill.
The global pandemic led to thousands of layoffs, affecting those directly associated with production and people who support the industry, such as florists, catering services, and trucking companies. On the flip side of this, streaming services saw the light of the day, growing by leaps and bounds.
Move to Drive-in Theaters and Streaming
Experts believe that streaming is the future of the entertainment industry in the post-pandemic world and is here to stay. With people shut in their homes, streaming was the only way to catch up on some entertainment. Now, with the convenience and cost-effectiveness of the medium, streaming continues to tower over the theatre business. The film distribution model may see a permanent alteration with studios forced to consider straight-to-streaming and PVOD releases instead of the box office. Several studios are choosing to launch films simultaneously in theaters and streaming.
However, there is still hope for movie theaters. Some experts believe that in the long run, the pandemic will benefit local, independently owned cinemas because of greater patron loyalty, better capacity to reflect regional interests and tastes, and more chance to organize film events.
As theaters and streaming battle for customers, many believe the two can co-exist. Watching a movie at home versus a theater offers completely different experiences. Customers will likely continue watching new releases both in the luxury of a theater and in the comfort of their own homes.
Drive-in theaters have also gained popularity, with Walmart announcing that it will transform 160 of its parking lots into drive-in theaters. Throughout the pandemic, drive-in theaters have evolved into a safer alternative to traditional theaters.
Production Values
COVID-19 has created an intense focus on new ways of production and given rise to new toolsets. It has made filmmakers relook at and reassess their old ways of working and has opened up new ways of working that were previously thought impossible. From remote and virtual prep to LED walls, visual effects have offered potential solutions and bridging gaps to help recover physical production.
On the other hand, pandemic working has also put focus on the positive aspects of centralized working. Filmmakers and production houses are now trying to find a balance between the two approaches.
“We’re fooling ourselves if we think we’re going back to a pre-pandemic work lifestyle,” Arianna Bocco, president of IFC Films, told Variety. “Yes, we all want to go back to centralized working again, but some aspects of our virtual existence will remain. It’s been a terrible year, but it has allowed us to think in a more progressive way about how we can achieve a better work-life balance by giving people more flexibility.”
Competition from Foreign Productions
With the rise of remote production practices, production values have seen a steep decline. High production value has always been a hallmark of American television. And with that advantage taken away, the American film and television industry faces greater competition from overseas productions. As long as the content fits within the genres popular with the American audience, the International productions have a greater chance at success. For example, the French heist drama Lupin managed to snatch a top viewing spot in the first three months of its release on streaming giant Netflix.
Trends suggest that Americans have become more comfortable streaming non-English language content. With more international companies producing content similar to or even higher quality than the content American productions are creating, the trend is likely to continue.
