logo
logo
Sign in

both subscription and ad-based services

avatar
ravitejafe
both subscription and ad-based services

One innovative example of a remixed entertainment experience can be seen in how musicians have pioneered a new channel for releasing music: video games. Rapper Travis Scott staged a virtual concert within the video game Fortnite that attracted 27.7 million unique players, making it Epic Games’ most successful in-game event ever and helping to launch the rapper’s newest single, “The Scotts,” to No. 1 on the Billboard Hot 100. Meanwhile, in Block by Blockwest, a virtual music festival inside the Minecraft video game, nearly 30 bands performed across three stages (servers) during an event streamed by 134,000 users.

While the convergence of content and distribution channels has been apparent for some time, the COVID-19 pandemic sent this trend into overdrive. One of the prime examples is the decision by several studios to release first-run movies directly to streaming video services. Box-office revenues have been declining for years as consumers watch more films from home on streaming video services. With COVID-19 closing theaters, some studios released movies directly to consumers. In the short term, this approach helps studios to counter the closure of theaters due to the pandemic. It could also serve a more strategic purpose: providing a powerful hook for acquiring and retaining customers on subscription-based video streaming platforms.

Of course, no one knows how the coming months will further shift viewers’ actions and preferences. And newly established digital movie-viewing trends (and success stories) have raised new questions around movie releases, particularly with studios experimenting with releasing films exclusively to certain direct-to-consumer streaming services. Will premium video on demand (PVOD) become a viable alternative release method for all or just some cinematic productions? Is there a balance to be struck that supports theater owners and studios? Will PVOD have long-term consequences for the economics of film production? The COVID-19 pandemic and its impact on the movie industry has challenged the typical notions around theatrical launches. In the future, studios will probably take a portfolio approach to movie distribution rather than a one-size-fits-all strategy.

More info: rf engineer

collect
0
avatar
ravitejafe
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more