The Future of Cinema: OTT vs Theatres

The ongoing pandemic has certainly disrupted the traditional movie-watching experience. However, as the situation normalizes, one key question remains: does the future of cinema belong to OTT platforms, or will movie theatres continue to thrive?

While it's premature to make definitive predictions, it's clear that the movie industry is on the cusp of significant change. In my personal opinion, both OTT platforms and traditional theatres are likely to co-exist in the future. This coexistence will be a result of evolving consumer preferences and changing technological landscapes.

Evolution of Entertainment Consumption

Let's take a look at how our consumption habits have transformed over the years. In the past, we had to physically go to music stores to buy CDs, or rent a DVD to watch movies. Cable TV remained the primary medium to watch sports. These traditional methods have all given way to the internet and OTT platforms. Music CDs have virtually disappeared, replaced by digital downloads and streaming services. Similarly, movies can now be watched on OTT platforms, rendering physical DVD rentals obsolete.

This shift has had a significant impact on traditional businesses. While cable and dish television services still exist, the demand for CDs and DVDs has plummeted. The ease and convenience of streaming have revolutionized the entertainment industry, making alternative experiences like physical media almost a thing of the past.

The Challenge for Movie Theatres

Movie theatres face a similar challenge. As OTT platforms continue to grow, many people are increasingly choosing to watch movies at home for various reasons. The primary attractions of staying in, avoiding movie tickets, and saving time spent commuting in big cities are compelling.

However, this does not mean that movie theatres are doomed. There are movies with visually stunning graphics or immersive 3D/4DX experiences that simply cannot be matched by home viewing. These kinds of movies will continue to attract audiences, just as they have in the past. Producers need to upgrade their content to cater to this audience. For instance, blockbuster films like Avengers and Baahubali will always draw crowds due to their massive visual effects and intense storytelling.

Walmart's Drive-in Theaters

As movie theatres adapt, innovative solutions like Walmart's drive-in theaters show promising developments. Converting parking lots into temporary drive-in theaters highlights the ongoing resilience of in-person movie experiences. This approach not only caters to health-conscious individuals but also offers a unique way to maintain social distancing while enjoying a movie night.

While some may argue that drive-in theaters are a temporary fix, the practicality and convenience they offer suggest that movie theatres will continue to find ways to adapt and thrive. The bottom line is that people love the experience of watching a movie in a communal setting, even if it means enduring short-term inconveniences like sitting in a car. The drive-in theaters represent a creative and flexible solution during challenging times.

Conclusion

In conclusion, while the future of cinema remains uncertain, it seems clear that both OTT platforms and movie theatres will co-exist. The key to success for traditional theatre owners lies in adapting to changing consumer preferences, providing unique experiences that cannot be replicated at home, and embracing new technologies and business models.