All of a sudden, the so-called theatrical window that is the lifeblood of the cinema industry, is dead. Movie studios are scrambling to find ways to not lose every penny on films into which they’ve already sunk money.
“Some investment will be recouped as titles are released via streaming services, as is starting to happen,” saysike Bloxham, the senior vice president of global media and entertainment at research firm Magid. “It’s impossible to say to what extent that will replace any amount of box office loss.” For years, the theatrical window was a part of a seemingly unassailable Hollywood tradition: the dance between cinema owners and studios that dictated a film must be in theaters for three to six months before it is released to in-flight entertainment, rental platforms, television or any other ancillary media. Adhering to this tradition was the only way any film could be considered for an Academy Award, the coveted accolade every creator in the industry seeks.
But Hollywood has had a rude awakening in recent years. The successful incursion by technology giants like Netflix, Amazon and Apple showed that the once insular code of Los Angeles-based businesses controlling the way the world gets its filmed entertainment could be cracked. With it came a sudden reversal of many of the business strategies those companies have held dear.
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