Following up on a previous discussion on Disney, Spark Partners turn their attention to the struggling film industry and movie theaters. Hollywood’s heavy reliance on the traditional value delivery system of theater-viewing has left the industry to fall behind competing platforms utilizing trends in streaming and technology. According to Adam, the mutual relationship between film producers and theaters is long gone. Large box office productions have less use now that movies can be made on smartphones and exceptionally low budgets, and now that at-home streaming is the most popular and preferred method for viewing. The COVID-19 pandemic is not to blame--this year’s biggest health crisis only accentuated the trouble the industry has been heading towards.
The entire value chain of the film industry, from production to consumption, must be transformed to adapt to growing trends in entertainment, technology, and lifestyle. Surprisingly, Disney’s leadership has recently modeled steps others can take by creating their own distribution platform, Disney+, and experimenting with new models to take their content to market. Overpriced products and social distancing won’t save the movie industry or any other business. Organizations must step into blank space and find creative ways to thrive in a rapidly changing and competitive marketplace.
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