In recent years video streaming services such as Netflix and amazon prime have seen a massive surge in users. The recent pandemic has contributed to the massive increase in users with March of 2020 increased by a whopping 85%.
Why people prefer streaming services?
The convenience factor brought by streaming services is pushing the industry forward. Long lines, being able to watch whenever and wherever, and saving on travelling costs are some of the pull factors that are causing the industry to change and evolve. These Services provide a wide range of movies and tv shows catering to various customers making it appealing to consumers and more practical. Having the comfort of your home and not being annoyed by agitating customers who yell or create a raucous is a huge relief for customers.
Why are cinemas still beloved?
Nothing can beat the feeling of entering the cinema buying your snacks entering the Audi and waiting for blackness to engulf the room, the speakers bursting and seeing the reaction of other fans as you watch the movie is surreal. Brand loyalty is one thing that is keeping cinemas alive, people don’t like change and prefer going to the cinemas s the experience is phenomenal. People who don’t have access to the internet will not be able to stream videos thus resulting in cinemas being the only option. Lastly, streaming services charge a monthly subscription and can be too expensive for many.
Verdict
This pandemic has resulted in many movies being delayed or either uploading them to streaming services. So could this finally be the end of having to go to a cinema? No streaming services still have quite a long way to go before they can replace a cinema. In 2019 cinemas made 42.5 billion while 2018 made 41 billion, so the industry is still growing but at the same time streaming services are growing at an exponential rate and many are shifting to streaming services due to its convenience factor, but due to the limitations of the streaming as of right now the possibility for it to replace and revolutionise an entire industry is unlikely at this time. So if you are a fan of cinemas you will be glad to know that they will be there for a long time.
Writer: Atif Agboatwala
18/06/2020
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