The curtain has closed on 2023, a tumultuous year for Hollywood, marked by strikes, legal developments and seismic changes in the way we consume entertainment. Now, as we head into 2024, it’s time to unravel the iconic trends and decisions that will continue to shape the entertainment industry.
Mandatory transparency: A new set of rules
The start of 2024 brings with it a fundamental change in the way Hollywood does its business. The obligation to report at the federal level on the “beneficial owners” of entities becomes a reality. Actors, producers and companies will have to open their books to the federal government, which could have significant repercussions, especially for independent productions that hide behind LLCs to protect their investors. Mandatory transparency will change the face of the industry.
Artificial Intelligence: The future of cinema at stake
The specter of a movie produced entirely by artificial intelligence looms over Hollywood. From scripts to acting, AI could redefine creativity in film. However, the class action lawsuits that accuse AI companies of violating copyrights raise critical questions. The balance between innovation and intellectual property protection is emerging as a crucial battleground for the industry.
Streaming: Changes in the consumption paradigm
2023 witnessed a slowdown in subscription video on demand (SVOD) platforms due to rising costs for consumers. Meanwhile, the streaming gratuito supported by ads it quickly gained traction. This shift could continue into 2024 as consumers continue to consider the impact on their wallets. Are we facing the decline of traditional SVOD platforms?
The Metaverse: A dream that awakens in silence
Enthusiasm for the Metaverse appears to be fading due to the inconvenience and cost of virtual reality headsets. The rise and fall of the Metaverse have shown that fashion does not always translate into utility. Although there may be developments in this space, it seems that the public is not yet ready to fully immerse themselves in virtual reality.
Copyright and Transformation: Challenges in artistic creation
The Supreme Court’s decision in 2023 on copyright infringement in the work of Andy Warhol sets a critical precedent. The interpretation and application of this decision in lower courts could limit the fair use defense. This could have a significant impact on future cases involving the right of publicity and transformative use of images.
Global Content: Hollywood looks beyond its borders
With labor strikes persisting, streaming services like Netflix They have increased their investments in foreign productions. In 2024, we can expect this trend to grow, opening the doors to more content from countries like Colombia and Nigeria. Diversity in content supply sources could become the key to success for streaming services.
Impulse Shopping on Screen: The Next Step in E-Commerce
E-commerce integrated into entertainment could be the next big frontier. With Amazon and other SVOD providers exploring ways to facilitate impulse purchases through their platforms, we could see viewers purchasing products directly from the screen while enjoying their favorite shows.
New financing opportunities: Saudi Arabia on stage
With resistance to conventional financing, Saudi Arabia’s entry into the game could offer a lifeline to filmmakers struggling to get ambitious projects off the ground. However, this raises ethical questions and creative ideas about how outside funding could influence content produced in Hollywood.
2024-01-04 16:47:23
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