The COVID-19 Pandemic has put the world on hold. Quarantines and self distancing have all but shut down the economy, especially in the entertainment industry. The film industry is all but at a stand still, with cinemas being closed indefinitely, causing movie releases postponed until further notice. Productions of new films is also halted. One way studios have combatted the issue is by releasing finished films on Video On Demand, giving people the option to buy new movies to watch at home, creating a cinematic experience in their houses. Now, what does this mean for theaters in the future? One study claims their days may be numbered, indeed.
A new study from Performance Research and Full Circle Research asked the question that if theaters were to re-open, but new films that were in cinemas were also available on VOD, would a person go to the theater or stay at home and watch the movie on their TV? The answer was a landslide for at home viewing with a whopping 70%. 13% said they’d still prefer the theater experience, and 17% said they were undecided. Not only is the 70% for at home viewing a big amount, the most astounding is that only 13% are eager to go back to the theater.
A major factor against theaters, besides the whole pandemic issue, is the staggering cost to go to a film. Even if the VOD option is the same price as a ticket, concessions at the movies are astronomical. A small popcorn, a small drink, and some Milk Duds cost nearly double the average ticket price. Before this closure, some theaters were trying to attract back customers with monthly subscription services, like Regal Unlimited. For less than the cost of two tickets each month, you could go to the theater all day, every day. And, you also received at least a 10% discount on snacks, with the option of weekly coupons to add to that.
On a personal note, I want to go back to theaters. Seeing these films on the big screen, with true surround sound, gives you the full experience. But, we may have seen the last of theaters, by the looks of the mass opinion.
Do you want to go back to the theater? Let us know in the comments below!