COVID-19: How its Socio-Economic Impact Could Accelerate Business Model Change

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By Asaf Ashkenazy

COVID-19, has aggressively dispersed itself across the globe on an unexpected scale. Like other global industries, Hollywood has been unable to escape the disruptive reach of COVID-19, with many experts expecting the worldwide box office to take a hit of approximately $5 billion.

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Self-quarantine, as many have pointed out, lends itself to binge-watching. What has changed is the timing — firstly, the amount of time spent at home as mandated by governments the world over, and secondly, the accelerated rate at which streaming will be consumed due to this prolonged quarantine.

This signifies a potentially massive cultural shift that the movie industry was aware of, but not prepared for at this scale, leading to production shakeups and delayed releases, as well as an entirely new reliance on streaming

Read the entire article at the Verimatrix Web site

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