1. Home Entertainment Will Make Box Office Returns Irrelevant
NetflixMuch like any other successful business model, the movie industry has to constantly adapt in order to move with the times. From the advent of the talkies right through to the recent 3D and digital revolution, cinema has to consistently reinvent itself to remain at the forefront of consumable media. However, recent developments in technology will one day render theatrical grosses as a redundant method of measuring a movie's success. Box office grosses might be remaining at record-breaking levels, but cinema attendance is way down from what it used to be. Even though millions fewer people are going to the multiplex, steadily rising ticket prices make sure that financial returns remain at healthy levels. In recent years, the growth of the international market has seen the importance of the domestic box office gradually decline. In fact, out of the 50 highest-grossing movies in history, only three made more than 50% of their takings in the States. With the US dollar becoming less and less important to an industry based in Hollywood, its only a matter of time before box office numbers themselves become irrelevant. The main reason for this is the rise of subscription streaming services. Having effectively killed off the rental store, services like Netflix and Amazon Prime boast thousands of movies available at the press of a button. Numerous smaller releases open simultaneously both in selected theaters and on demand, and before long major studio projects will follow suit. Technology has made the home entertainment experience more immersive than ever, and it will only continue to improve. Eventually, all high-profile movies will be made available on the day of release both theatrically and on demand for the same price, leaving it up to the viewer to decide whether they want the shared experience of going to the theater, or if they'd rather stay at home in more comfortable and familiar surroundings to enjoy a movie.