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SOME THOUGHTS ON THE IMPACTS ON THE ENTERTAINMENT SECTOR OF THE RISE OF STREAMING SERVICES
While in the process of consigning DVDs to 20th century history books, streaming has also presented serious obvious challenges to entertainment venues of all kinds worldwide. The broad mass of consumers now prefer to consume their entertainment on demand, on their own timetable, on portable personal devices or in the comfort of their own homes. The comprehensive catalogues of streaming services complete the package.
Huge 65″, 75″, 88″, 95″and 100″ Large Screen TVs and sophisticated surround sound speaker systems with chest thumping bass subwoofers have greatly enhanced home viewing experience. Sophisticated smartphones even give users access to entertainment while on the move. Such consumers list extortionate tickets, snacks, food and drinks prices, anti-social behaviour and laborious queuing as the things they least miss about entertainment venues.
However, in demand A List artists’ concert tours and impressive opening weekends for star-laden popular films still persist in raising serious revenue. A dedicated consumer base for music and collective viewing seem to be the saving graces these two narrow sectors. Cinema launches for blockbusters featuring A List Stars can still therefore have good runs before the film eventually moves to streaming. Music artists no longer need to rely on record sales, since revenue-sharing in music streaming is such a contentious issue. The encroachment of AI into music and film production is also an increasing deficit for creative artists. Therefore touring to offer fans live music is the surest route to maximising revenue for musicians’ creative art.
Pubs, clubs, theatres and other venues have also been affected. With prices elevated by pandemic-related supply chain dislocations, a seemingly unending series of energy price shocks since then and pressing cost of living constraints, many consumers prefer to stay home for their entertainment at the weekend, rather than go out. Streaming services displayed on feature rich smartphones and large screen smart TVs, with audio processed by state-of-art ear buds, headphones and powerful home speaker systems have made personally curated consumption of entertainment a pleasurable cost-saving experience.
Consequently, many cinemas, clubs, pubs, theatres and some smaller music venues have vanished from high streets, towns and cities everywhere.
Terrestrial TV is also on the retreat from the mass migration of users to streaming services, as advertising revenue dwindles and follows users to the digital ecosystem.
As the entertainment sector evolves, mutates and transforms, we at DigitalFlix will do all we can to keep you abreast of what’s happening.