The entertainment industry has seen major changes in 2020 in response to Covid-19 and enforced restrictions. Countless productions and projects have been postponed, canceled, or restructured, and the future is still uncertain.
The industry may be on hold, but adaptation and evolution will prevail. We’re watching realistically how entertainment survives and thrives during this challenging period.
The demand for quality films, music, and television remains higher, but production and distribution have drastically shifted. Here’s what has changed so far and what to expect moving forward.
Movie Theaters Adjust
In light of the current pandemic, movie theaters have taken a hit, with hundreds of venues shutting down worldwide. Theaters were already struggling to survive in the 21st century, and the outbreak could have been the final straw.
Although some theaters are open and allow socially distanced viewing (25 people in a room versus 200), profitability is not ideal. Will movie-goers be eager to return to the theater seats once the pandemic ends, or is the big screen a thing of the past? When theaters return, we’ll likely see new viewing configurations and unique personalized experiences.
The Future of Blockbusters
Ticket sales make or break triple-A Hollywood films, but producers must change their distribution and profit models for blockbuster films without movie theaters to attract big crowds.
So far, many studios have been playing the waiting game, waiting for theaters to reopen before they release their films. Others have released blockbusters to streaming services at premium costs, with mixed results. As things develop, marketing, pricing, and access will likely change for these Hollywood heavy-hitters.
Streaming Service Takeover
Streaming services like Netflix, Amazon, and Hulu have been recorded in 2020, given the captive audiences worldwide. These companies had already enjoyed steady gains and membership, but this year has taken things to unimaginable new heights.
Due to these streaming services’ massive influence and popularity, production companies and creatives must consider structuring new agreements and strategies to benefit from the trend.
Socially Distant Productions
Quarantines and lockdowns forced studios to pause or cancel productions earlier in the year, but things gained traction again in some industry segments.
As productions slowly start back up, current regulations make it more difficult for staffers to find production gigs – making filming and recording more tedious than ever.
Below are some of the precautions being taken on set in 2020:
- Scenes with large crowds are prohibited.
- On-location filming is limited.
- Physical romance on screen isn’t recommended.
- Limited crew sizes on set.
- Actors, crew, directors, and others must maintain social distancing on set, masks, and proper etiquette.
Giant Toll on Musicians
There is a scarce opportunity for musicians to profit from live performances, forcing them to monetize their talent in other ways. Streaming services give musicians a decent revenue stream, but most income comes from live concerts.
We’re seeing musicians host live events on social media, become more engaged with fans on digital platforms, and spend more time on creative projects in the studio and beyond.
The effects of 2020 on the entertainment industry may last for years, so keep a close eye on these developments. We watch entertainers, managers, and studios navigate experimental strategies as we enter a new way of living.
Look to industry innovators like Mark Gillespie to see how the future of music, TV, and film will unfold to meet the world’s changing demands and obstacles.
