"It's a nail-biter" [Klaus Vedfelt/DigitalVision via Getty Images]
Miss the extra butter... With the Oscars coming up on Sunday, we're taking a look at how the entertainment industry has transformed over the past year — and what's next. Pre-pandemic, tech companies were already investing big in streaming. Then everything fast-forwarded:
Lights, camera, play button... While theaters like AMC struggled to survive 2020, streamers could barely keep up with demand. Subscription streaming time soared 34% last year, to over an hour a day. Netflix, which reports earnings tomorrow, crossed 200M paid subscribers. Disney+ crossed 100M subscribers last month, just 16 months after launching.
The hybrid model could stick... AMC, the world's largest theater chain, reopened nearly all its US theaters last month. But the hybrid streaming/theater release model could stick around. Last week, Disney said it'll roll out Marvel's “Black Widow” and "Cruella" on Disney+ and theaters simultaneously. People will always watch movies on the big screen – but it'll be more for love of the shared experience, rather than the only way to see new films.