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Are we witnessing the decline of the movie theater as a significant source for entertainment in today’s culture? Well, maybe not yet. But as the window of time between a movie’s premiere and its online release slowly shrinks, there sure are some clear warning signs for the fading art business.
Streaming services like Netflix, Hulu and Amazon are proving to be much more attractive options for movie and TV show enthusiasts. With Marvel TV shows like “Jessica Jones,” “Daredevil” and the up-and-coming “Luke Cage” coming to Netflix, people are looking to this streaming service for premium at-home entertainment. It seems that “Netflix and Chill” has replaced the antiquated “Let’s go to the movies!”
While Netflix and Amazon Video have experienced substantial growth, a new way of movie-watching has emerged. Recently, an elegant service called Prima Cinema entered the business, allowing entertainment lovers to access newly-released movies right in their homes – but for a hefty price: $20,000.
As a collection of diverse online streaming services pop up in homes worldwide, we are left to question the reality of movie attendance in today’s culture.
According to a study by Coupon Cabin, 61 percent of 2,217 surveyed women and men said they “rarely or never go to the movies anymore.” As to their reason, more than half of those surveyed stated ticket prices as their reason for their rare attendance. When you tack on the additional costs of snacks, popcorn, candy and drinks, it’s no wonder that nearly 40 percent of consumers sneak in their own snacks while turning to cheaper matinee show.
Naturally, consumers need to fill the void in their entertainment, so they turned to less pricier options. Netflix and Redbox have proven to be cheap, effortless and comfortable alternatives. But is this turn to at-home streaming mean that theaters like Edwards Cinema, AMC Entertainment and Regal Entertainment are nearing extinction? Well, this attitude might be a bit hyperbolic according to The Washington Post.
Yes, it is cheaper to stream – or even illegally download – movies online, but the entertainment experience is still vastly different. Watching the latest Marvel film from the comfort of your home is relaxing, but it doesn’t have the high-definition sound and visual quality that movie theaters provide. Drew Harwell explains that during years when there is a peak release in blockbuster films, there is a surge in unprecedented box office sales. American Sniper made over $300 million nationwide, and Hunger Games Mockingjay Part 1 made $755.4 million dollars worldwide.
While these extraordinary profits have to do with the spike in ticket prices, when it comes to highly anticipated movies, people want premium experience and would rather shell out some cash then wait for it on-demand.
Consumers are still watching as many movies as they did when movie theaters were a novel enterprise, they’ve just found less expensive ways to consume the entertainment. So while online streaming does stand as stiff competition, it isn’t going to eliminate the movie theater business anytime soon. The movie going experience is (thus far) one that is irreplaceable by the anticlimactic environment that is your living room couch and plasma screen T.V.
