Published on October 13th, 2012 | by Steven Hodson0
Our Movie Going Experience Could Be Disrupted Sooner Than We Think Says Analyst
There is no doubt that all types of media consumption exist in a world full of all kinds of disruptions to their business models. We have seen it with music, we see it happening to books and magazines, and we are starting to see it happen to television and movies.
Even though we still go to the movie theater to see the latest blockbusters, and mortgage our homes to pay for the popcorn, the industry is still making record profits regardless of their hyperbole over piracy. Of all the media it would seem that the whole movie going experience will be not as affected by the ongoing disruption of media consumption but Angus Finney, who now runs Europe’s Production Finance Market, believes that we will actually see it being disrupted a lot sooner than some might think.
Speaking at a Masterclass at the Abu Dhabi Film Festival Finney, former Renaissance Film chief, said that with the emergence of tablets and the explosion of smartphone usage we could see ourselves watching movies first on those devices rather than going to the movie theater, and we will see them take a dominant position within months, not years.
“You only have to notice the number of people who watch movies and TV shows on handheld devices,” he said. “That’s going to require a lot of thought as to the kind of content people make.”
The finance expert, whose clients include ADFF organizer Twentyfour54 and $2.4 billion City of London fund manager Octopus Investments, delivered his verdict to mostly young Abu Dhabi filmmakers.
Finney spent two hours explaining how the film industry works and the qualities you need to be a successful producer.
“Stars are struggling because they mean less. They don’t dictate the market any more, and, as a result, they don’t earn so much,” was among Finney’s opinions.