Technovations E12 : StudioPASS - The Concept 💳
The movie subscription programs were not very successful with most exhibitors. One of the main challenges for the theatres was, how to tackle the distributors and studio costs. The subscription program increased the customer visits, but the theatres went into losses. Years passed by, and the movie industry witnessed more innovations and changes. One of them was the introduction of OTT platforms. Studios also started their own OTT platforms to list their contents. The pandemic in 2020 was a huge setback to the cinema industry following massive lockdowns and capacity restrictions. The movie production also came to a standstill. This affected the availability of the content. To tide over the theatre capacity restrictions, the studios started releasing the movies on their OTT platforms. The OTT's popularity increased during this time. After the pandemic, moviegoers started to flock the theatres to watch their favorite movies. It was clear that customers still wanted to have the cinema experience. We have also seen a drop in OTT subscriptions due to high inflation. Piracy is also on the rise which is another challenge. Our research and development team has been observing the movements very closely. The team has been working to redefine the subscription program by bringing together the OTT platforms and the theatres.
Technovations E8: StudioPASS - The Concept 💳
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