Corona has split the film industry: cinemas are suffering while the streaming business is booming. According to Disney boss Bob Chapek, what has changed in the past year cannot be reversed – and he does not want that at all.
After Corona: what happens to Disney films in the cinema?
Despite closed parks and hotels as well as postponed film premieres, the Disney group makes it through the pandemic – albeit with considerable losses. Disney + absorbed some of the economic damage. As Disney CEO Bob Chapek explains, the streaming service will continue to be used in the future. And that could significant consequences for the cinema industry entail.
Specifically, Chapek was referring to the time window for the exclusive theatrical release of new films. He spoke at the virtual technology, media and telecommunications conference of the US investment bank Morgan Stanley. “I think customers are probably more impatient than ever because they had the luxury of a whole year in which they could get films at home at any time, ”quotes the American side MediaPlayNews. Chapek continues: “I’m not sure there is a way back.”
In the video: This is Disney +.
Disney + comes first: customers are used to fast availability
Disney wants to open the cinemas again not penalize its streaming customers, let alone lose them. For Chapek, showing films exclusively in cinemas for months no longer seems sustainable. The behavior of customers is changing and Disney wants to make sure that they are at the forefront.
Nevertheless: You don’t want to do without the cinemas entirely, after all, the group made record sales with them before Corona. Streaming has yet to catch up. It is likely, however, that Disney the time in which films are only shown in the cinema will be significantly reduced. If you go one step further, parallel publication is even possible – even after the pandemic. Because “Cinemas will not come back 100 percent”, so Chapek.
At Disney, you will “practically always be guided by what the customers want.” One additional challenge for the movie theaters, if they can (hopefully) receive guests again soon.
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