The world remains in turmoil thanks to coronavirus. Lockdown goes on again in several countries. Under such circumstances, Hollywood, the middle of the world’s entertainment business, is slowly changing. The entertainment business is popping from cinema halls to streaming. and corporations like Disney also are giving air to vary .
Hollywood’s blockbuster film drought is raging during the epidemic. Although ‘Tenet’ and ‘Mulan’ were released, the business didn’t go needless to say. All hopes are now on ‘Wonder Woman 1984’. But with the discharge of this film, a replacement trend started in Hollywood. Production company Warner says they’re going to make a complete of 16 films next year. These movies, including ‘Wonder Woman’, also will be seen on their streaming website HBO Max. Not only that, the day the films are released in cinemas, the day they’re going to be released in streaming.
Analysts say this is often the start of a turning point for Hollywood. Ever since the arrival of Netflix during this world of data technology, there has been talking that perhaps one-day pictures are going to be released simultaneously on halls and streaming platforms. Movies, theater-related Hollywood was an enormous part of it then. But due to the epidemic, it had been time to see it. Doubts remain on how far Warner is going to be ready to stay afloat in their decisions. However, making policy decisions among themselves regarding the adoption of such strategies isn’t less.
The whole Hollywood business is now streaming. Last July, Universal Pictures signed an agreement with AMC, the world’s largest cinema hall. it’s been said that Universal will release the image only 18 days before the discharge of the image in streaming. Again this year Paramount Pictures has sold several of their new movies to Netflix. Paramount has chosen Netflix as more profitable than releasing pictures when it’s zero. And on December 10, Disney, the most important studio in Hollywood, indicated that they’re also curious about that specialize in streaming from now on.
Disney recently said during a meeting with investors that they need to spend ৮ 8-9 billion a year on creating original content on their streaming site Disney Plus by 2024. additionally , Disney owns the sports-based streaming site ESPN Plus. In all, Disney plans to spend থেকে 14 to ৬ 16 billion a year on streaming by 2024. But in 2020, only two billion dollars has been invested in creating original content at Disney Plus.
Netflix, meanwhile, has announced it’ll spend ৭ 16 billion on content creation this year. this suggests it’s close to be the foremost delusional time of the year, as well. On the contrary, efforts are being made to supply more logistics. Disney has set a target of 230 million to 260 million streaming subscribers by 2024. Netflix currently has 195 million subscribers. So there’s no sign of the war ending.
Michael Nathanson, an analyst at research firm Moffetthanson, thinks this huge investment by Disney could make it impossible for little streaming companies to survive within the competition. Because, consistent with Disney’s plan, the streaming business will become their main source of income by 2024.
But is that the death knell ringing within the cinema hall? within the current market situation, it seems so, but not everyone thinks so. thanks to the epidemic, the reluctance of the audience to travel to the cinema hall has been created. But once the vaccine is gone, things may change a touch. Who can say that the cinema hall within the epidemic is in hit or miss crisis, that the streaming platform will never fall under such a trap? Analysts say that while cinema-centric Hollywood has changed its business direction, it’s not yet time to scrap it.