The impact of the coronavirus has been felt in business across the world as many are either currently at risk or have unfortunately had to close – one sector that many may have overlooked but now may in fact be at risk can be seen within cinemas and theatres – the sector had already been facing some troubles for a number of years as the rise in streaming platforms and online alternatives have been steadily growing, but the forced closure of these locations during lockdown and increasing evidence that these platforms can be just as, if not more successful for a new release are starting to creep in.
Similar stories are emerging elsewhere, with the closing of brick and mortar locations and initiatives that prevent some users accessing the services, many users of mobile casinos are turning to this list of non gamstop casinos as a form of entertainment during the current crisis – digital has been performing extremely well in general as the aforementioned streaming services have been finding huge surges in traffic – this increase in interest and traffic has been continued for a long time, however the lockdown measures have shown the possibility of where the growth could be.
This rise in digital and strong numbers could cause a drop off in cinema following a return to normalcy however, as social distancing efforts become a social norm the likelihood of anyone attending these locations in large groups is already lower, but as we’ve seen with similar releases such as a recent release in Trolls making more profits via streaming services in three weeks than a similar title made in theatres over five months, the figures speak for themselves. With more and more titles expected to find a wider release on streaming platforms as cinemas remain unavailable, we may see a rising number of publishers decide that the increasing profits from streaming only as well as the reduced costs for streaming only provide a better opportunity for release, but also as many of these titles are being developed independently through services such as Netflix, it also shows an increasing likelihood that these titles will solely be released to the streaming platforms rather than outward to theatres.
Cinemas would be amongst the last of businesses allowed to reopen fully, and even then with social distancing measures in place – since this stage could still be a number of months away and the increasing costs and low margins as many only make their money from food and drink sold within the venue and not through ticket sales, there’s a chance that many of these locations could be at risk. The success of streaming platforms has been extremely clear during the lockdown measures, and unless there are big changes within the cinema and theatre industry, there may not be an opportunity to recover from not only the current losses but also the future possibility that many will choose streaming platforms over going out to a physical location as their primary form of entertainment.