The movie industry was already going badly because of platforms like Netflix, amazon prime or Disney +, where people can watch movies and series more easily, without moving from their home, and for less money than in movie theaters. Covid 19 has accelerated this digitalization and shutting down movie theaters for more than hundred days didn’t help the film industry to get better. The movie production has decreased like the investments and the release of many movies has been postponed because of the pandemic.
However, some production companies managed to release some movies while the movie theaters were shut down. One such example was Universals’ Trolls World Tour which it released exclusively to digital rental instead of in theaters. It managed to earn over $100 million dollars in its first three weeks, leading Universal to announce that in the future it would release its movies simultaneously in theaters and on digital rental. This has led to tension between Universal and movie theater chains, with some threatening to not play Universal films in their theaters if this comes to be.
More than that, a popular independent film festival, SXSW was cancelled. In response, Amazon Prime offered to host films that would have played there and pay the film makers. While few accepted over concerns with future distribution issues, nearly 40 accepted the offer.
Therefore, we can say that on one hand, online movie platforms are threatening the movie industry but on the other hand, in difficult period like covid 19 pandemic, these kind of platforms can help movie producers to release their artwork on time, and more people can watch it.