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Are people still watching movies on cinema screens?

Are people still watching movies on cinema screens?

No matter how many screens we add up, the charm of the cinema screens is still not slowing down. Driven by the growing audience, increased number of screens, and disruptive technology film industry continues to expand the world over.

A recent research by Research and Markets 1 indicates that the global movie and entertainment industry is expected to reach an estimated US $139 billion in 2017 with a CAGR of 4.2% over the next five years.

While as per the estimates by the Motion Picture Association of America (MPAA) total worldwide box office rose merely by 1% in 2016 valued at $38.6 billion in ticket sales. North America (USA & Canada) largely dominate box office accounting to $11.4 billion in ticket sales growing by 2% since 2015 as an individual territory. International markets made up 71% of the global box office in 2016 valuing $27.2 billion, compared with 63% a decade ago 2.

Though bets placed on China’s growth did not meet predictions, yet cinema market is still touted to grow at a staggering 11.6% CAGR from US$6.2 billion in 2016 to US$10.7 billion by 2021 3. Domestic films still command 58.33% of the total box office collection in the country where the release of foreign films meets a restricted number. 2016 saw over 92 foreign films released in China, the highest in country’s history. An average 26 new screens a day were added for the theatre-going audiences in 2016, making it a total of 41,179 movie screens, the most in the world 4.

Still holding the spot for top film producing country, India’s box office market valued at US$1.9 billion in 2016. Overall Indian film industry is projected to grow at CAGR of 7.7% over the next five years. The year 2017 would show higher growth results with the worldwide release of Bahubali 2: The Conclusion (2017) and Dangal’s (2016) release in Asian markets. Dangal has become the highest grossing Indian film ever collecting over US$290 million worldwide. Overseas theatrical release from India witnessed 14% growth year-on-year a reflection of cinema produce and export is being appreciated in the global market. Collections from the theatrical release of Dangal in China alone is close to US$191.03 million 5.

Piracy is one of the biggest threat for filmmakers globally coupled with management of talent. Filmmakers are adopting innovative marketing by premiering of movies on OTT, Pay-TV platforms and incorporating digital storage for content security techniques. Technology along with stories will continue to be the key forces to drive the audience to watch films.

You might also be interested in “[Infographic] Filming For Entertainment: How Big Is The Screening?”

Blockchain And Its Impact On Media Industry

Blockchain And Its Impact On Media Industry

As we move towards digitalization, the world of media has also changed significantly. Different roles have been established along the media value chain. For example, artists and authors have become the primary creators of content, while platform providers and aggregators of content are donning the hats of royalty collecting body.

Blockchain technology can disrupt the industry structure further by bypassing content aggregators, platform providers, and royalty collection associations, thereby shifting the market power to copyright owners.

Derived from the Bitcoin, blockchain is ‘a distributed database that maintains a continuously growing list of records, called blocks, secured from tampering and revision. Sealed in the chain, blocks can no longer be changed -preventing further deletion, edition, or replication, thus making it true digital assets.

This technology has the potential to resolve some of the current challenges prevalent in broadcast and media industry with ease. Listed below are some ways in which blockchain can benefit media.

Boost Revenue

Blockchain technology can generate revenues for fragmented content like news, blogs, and photos with micropayment-based pricing models. With targeted media usage that can be directly linked to respective content, budget allocation for advertising and marketing also becomes more targeted.

Centralized Payment

While the technology is still in its nascent stage, revenue distribution can be automated based on predefined smart contracts, thereby making payment transactions cheap and centralized. This can potentially reset pricing, advertising, revenue sharing, and royalty payment processes.

Protecting IP Rights

While digitization has altered content production and distribution, protecting the intellectual property of the content remains a major concern of the industry. Though several brands are charging to access digital content, consumers are looking for similar content elsewhere for free. Blockchain technology connects these brands directly to consumers who compensate them accordingly (and securely) for access to digital content

Ensure Authenticity

Blockchain records the history of every transaction. Therefore, it can be used as a potential application to ensure authenticity and transparency. Social media influencers, authors, videographers, and photographers can use blockchains for provenance and attribution.

The Comeback of the Vinyl Records,Thanks to Digital Archiving

The Comeback of the Vinyl Records,Thanks to Digital Archiving

As sunshine peeped through the window today morning, Larry smiled. A long lost smile for the 70-year old gentleman, whose children have moved to greener pastures to pursue their dreams. What remains now is eternal wait – wait for Christmas and Easter holidays, when his big mansion turns to a home.

However, today’s sunshine has a different story to share. Story of a different comeback is waiting for Larry. No, not of his children. But of his passion. Today is Saturday. And Larry is excited to watch Vinyl, which will be aired on television in sometime.

A series that made Larry nostalgic and excited like a child simultaneously. That made him travel back 40 years. And he suddenly started living it all in flashback.

A banker in the prime of youth, Larry was passionate about music. Every day, before numbers and finances took control of his day, he had 30 minutes for himself. 30-minutes of absolute bliss, when, as sunshine peeped through the window, he would close his eyes enjoying Earl Grey tea as Beethoven played in his record player. Those 30-minutes of uninterrupted solitude.

Then one day, the record player broke. Leaving him with “can’t be repaired” from technicians and thousands of favorite vinyl records. And a void that his family failed to understand. Except his grandson Alan.

Alan was browsing through Larry’s collection of records one afternoon and was intrigued by his rare collection. His excitement was answered by a proud smile from Larry. And the 70-year old found camaraderie in his teenage grandson.

It was Alan who gave him the idea to digitize his collection. “It’s easy Grandpa, they’ll just convert it and give it in a USB for storage. And then you can listen to your collection anytime you want, from anywhere,” Alan said.

Alan’s easy solution seemed like a dream come true. Couple of store visits later, he realized his records can be converted to high-resolution audio files, and he can carry them anywhere. The age of technology, he smiled to himself. Who knew he can enjoy the authentic sound of vinyl, with all its warmth and smoothness, anytime and anywhere with digital convenience.

 As Larry savored his morning tea, the sunshine made him happy. His plan for the day is already made. His favorite show on television, a date with the past, and then he would head to the store to get the means to digitize his prized collection.

And then, his 40-year old morning routine would resume. Thanks to digital archiving!

It is indeed a bright sunny Saturday morning!

What Happens in Vegas Comes to the Television near You!

What Happens in Vegas Comes to the Television near You!

Vegas lights up to host the NAB Show 2016. As the industry gears up to catch the latest in the show, we bring you the top four driving forces for broadcasters in 2016.

Your Favorite Content Anytime, Anywhere

How many times have you watched all the seasons of F.R.I.E.N.D.S. till date? Or played those quizzes circulating on Facebook that determines which F.R.I.E.N.D.S. character do you resemble?

In the age of digitization, the eternal wait for when your favorite season would be telecasted on TV is over. Now, content can be accessed at the drop of a hat. Today, digital asset management has made it possible to archive, access, share and distribute content to the viewers on the platform of their choice, anytime and anywhere.

As DAM/ MAM (Digital Asset Management/Media Asset Management) vendors bring the yesteryears closer to you, watch out how they innovate to make content inter-operable between systems and broadcast workflows.

Video Digitization

Headphones plugged in, eyes glued to phone screen – a common sight at any public transport, right? While our older generation complains that we are becoming unsocial, watching videos in free time has become a routine. No time to go for a movie – watch a short film instead!

With digital archiving around the corner, we don’t miss any episode of our favorite programs? Over the top (OTT) technology ensures our favorite program gets recorded while we are busy. Video-on-demand brings entertainment to our living room at our will.

As content producers move from making two hour movies to 20-minutes short films, the industry gears up for the next big change. New innovations around interactive TV technology, cloud based media resource planning and video digitization is something to look out for at the NAB Show 2016.

World of Mobile Apps

From networking on social media to playing games, from ordering grocery to keeping a tab of finances, our daily life is ruled by various apps. Be it making travel plans, getting news across as and when it happens, sharing photos, messaging, playing games, or even measuring our steps and daily calories – apps influence almost all our daily activities.

With drones capturing videos, monitoring crops, and flying quadcopters, mobile app developers are setting new standards every day. The NAB Show 2016 promises to introduce a host of new apps to drive engagement with functionality-rich experiences for the broadcast industry.

Merger of Real and Reel Life

You don’t miss a single movie of your favorite star, read all his interviews, listened to all his shows, and follow him on social media. Wouldn’t it be great if you could meet and click a selfie with him? Or attend one of his live shows?

As reel life spills over real life, consumers are looking at extending their digital experience to real life experience. With 3D, 4D and 7D technology already popular, industry is moving from watching a movie to living it with 4DX technology, where viewers live the experience with environmental effects.

How the industry players continue to innovate to provide immersive cinematic experience to consumers is something to watch out for this year.

If you are headed to the NAB show in Las Vegas and would like to meet our experts, drop a line to marketing@mediaguru.com