After Massive Layoffs, Hollywood is Centering Business Around Streaming
Since its inception, filmmaking has always been a collaborative art form that made money through people paying to share an experience together. With the onset in TV, films took a small hit, but there was still nothing that could compete with the theatrical experience.
Well, times are changing, as the pandemic has brought Hollywood to a harsh truth: people enjoy staying in and watching films, and the future of this industry is going to be about how many people you can get to watch your stuff at home, and not in theaters.
2020 brought one of the hardest years in history for the biz. Thousands of people were laid off, and companies had to look at the way they were spending money and where it was going.
While it’s in vogue to blame these layoffs on the coronavirus, the financial hits many of these places took came from not seeing the future and having a profitable outlet when theaters were closed.
Image credit: Warner Bros.