How Streaming Services will Change the Entertainment Industry

Over the course of the pandemic during this last year, we have seen pretty much everything shut down. Included in these places shut down, movie theaters across the country were closed for almost an entire year. From AMC to Pacific Theaters, all movie theaters were closed forcing people to find alternative ways to watch new and upcoming films.  

This led to an increase in entertainment companies creating streaming services. Over the last couple of years, we have seen Netflix, Hulu, and Amazon Prime Video, but as theaters closed, many companies created new streaming services for alternative ways to view their films. 

 

Companies like Disney, WarnerMedia, and NBCUniversal came out with their own streaming services through their creation of Disney+, HBOMax, and Peacock. However, with the increase of all these streaming services, it is interesting to see where the entertainment industry is headed. 

 

These streaming services have been used as a platform for entertainment companies to hold all of their content, which includes films and television series they have created. However, they have also become an alternative way for companies to launch their theatrical releases. This has allowed people to still watch the newest films from the comfort of their own homes, due to the closure of almost all films.

 

However, there are so many streaming services that all have their own monthly subscriptions. After calculating some of the top eight streaming services, one consumer paying for all of them would be charged around $60 a month. That may not seem like too much, but for context, that used to be on around three different streaming services to now being spread around eight different services, it causes an increase in payments for the average consumer. 

 

This is a luxury most people cannot afford and choose not to. However, they still seem to be doing really well and gaining more traction, so I wonder how this will impact the entertainment industry for years to come - if people will continue to go to some theaters to see movies or if they will just watch all of the new films on their own devices from home. 

 

It is also interesting and sad to note that two major movie theaters, Arclight and Pacific, have already announced that they will remain permanently closed following the pandemic. What does the future for theatrical movies look like, and how will streaming services change the course of how we view movies?