Traditional cinema has struggled in the 2020s. Between the COVID-19 pandemic and the rise of streaming services, fewer people are going to see movies in the theater. This opens up a rather uncomfortable question. How long can the traditional cinema sustain itself as an industry?
The Cinema Industry Won’t be Viable by 2045, Film Executives Say
According to analyst Stephen Follows, a poll conducted of 240 film executives revealed that 55% believe that the cinema industry will no longer be viable by 2045. The poll also revealed that “executives who work solely in theatrical exhibition were the largest proportion of voters to state that their side of the business would last ‘under five years.’” In addition, “nearly 90 percent of US exhibition executives have confirmed that their revenue hasn’t recovered to pre-pandemic levels,” which paints a scary picture of the cinema’s future.
The Future of the Moviegoing Industry
Even in this age of streaming, where hundreds of movies are available at your fingertips, there is something special about seeing a movie in the theater. Sitting in the dark with the giant screen and the smell of popcorn is something that can’t be replicated at home. Unfortunately, with rising ticket prices and the easy availability of streaming, a lot of people usually opt to wait a few months so they can watch the movie on streaming. Many theater staff have also been downsized. With Trump’s tariffs causing prices to skyrocket, movie theaters will probably struggle even more in the coming years.
Will Cinemas Become Obsolete?
The good news is that people are still going to the movies. The recent remakes of Lilo and Stitch and How to Train Your Dragon have been massive hits, likely because they trigger people’s nostalgia for the original versions. However, Hollywood relying so heavily on sequels, prequels, reboots, and remakes means that original films have less chance to cement themselves in the public’s eye. This runs the risk of making people tired of seeing the same franchises over and over, which could mean even fewer people going to the theater. It would be a tragedy if we could no longer share the experience of seeing a movie on the big screen.
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