Defining the New Normal for Theatrical Releases: Opportunities for Studios and Platforms
While COVID-19 has impacted the entertainment industry in ways never before imagined, the hardest hit segment is theaters. The use of ‘straight-to-home’ distribution strategies during the worldwide pandemic has changed the well-established theatrical release window. TV viewership is up exponentially and, with theaters closed, studios have pivoted to PVOD opportunities. When theaters do re-open, will consumers return and feel comfortable in a theatrical group setting with social distancing guidelines in place? This session will present first-party research results, from a robust survey of approximately 6,800 US respondents, detailing under what conditions audiences will return to theaters and motivations driving those decisions. We will also explore early consumer sentiment and behavior around the PVOD experience, including how genre, household make-up and the price-to-value equation differ based on generation, family status and frequency of movie-going. The new normal in a post COVID-19 world is likely to look very different and have far reaching implications for distribution, pricing and marketing.