For years now, Hollywood has become the pinnacle of filmmaking around the world. If you want to make it big as an actor, that is the ultimate goal. The glitz, the glamour, and the accolades would follow soon after. But in today’s modern world of innovative technology, streaming platforms have become the go-to outlet if you want to make it big.
While it’s still hard to dispute that Hollywood is slowly losing its grip, one can’t deny the impact and influence streaming platforms have on the current generation.
One of the greatest attributes would be accessibility. These streaming platforms provide plenty of content, more than one can even imagine. Of course, this is all due to Netflix. Its meteoric rise over the past few years has brought upon many other competitors, hoping for a slice of the pie.
For a company that is still relatively young, it caused the largest shift in the entertainment industry economics in decades. The evolution is slowly beginning and Netflix is the forefather of it all. Because of the paradigm shift, Hollywood is left in the dust.
For today’s generation of viewers, a direct-to-consumer business model is a priority. While box office records will still be smashed with the help of superhero movies, the anticipation to wait for potential blockbusters is slowly dying out. Instead, viewers are more drawn towards the next release of original content from their favourite streaming service.
By eliminating the middleman distributors and offering competitive packages on its service, Netflix is able to leverage on a market that is looking for commercial-free, on-demand content at an affordable price. Because of this, many of the Hollywood old guards are stuck to playing catch up. But while they’re doing so, tech giants like Apple and Amazon are clawing its way to the top as well.
Apple TV Plus is one of the latest contenders into the ring and with it, an entire slew of original content as well as blockbuster movies at its disposal. Amazon Prime, on the other hand, is already well-known in the industry for its own take on original content.
Many big-name actors, directors, and producers are also working with streaming services these days. It understands what the market wants and what it needs. Over the past few years, these big names have since jumped ship from the slow sinking wreckage of Hollywood and onto the internet, as reported by the LA Times.
However, one of Hollywood’s biggest names is finally on a level playing field. Disney — the world’s biggest media company — will soon be launching its own streaming service, Disney+. But with any historic shift in the market, it does not come cheaply or easily.
At the end of it all, the hold Hollywood has over its many viewers is starting to slip away. While blockbuster movies will see its time of day, original direct-to-consumer content will reign supreme for years to come. This has been going on for the last decade and it definitely won’t be stopping anytime soon.