The Impact Of COVID-19 On Hollywood May Become Permanent

The COVID-19 pandemic has affected the Hollywood film sector. Theaters are closed, films are delayed and video streaming has significantly impacted the industry. Last year alone, more than $42 billion was made at the box office. More than 400,000 businesses and two million jobs are dependent on Hollywood. Numerous changes in the film industry began before the pandemic.

Fewer Americans are attending films and ticket sales have declined despite the investments in cinemas, audiovisual technology and comfort. The exclusive rights of theaters to films are challenged by streaming, downloading and sales available shortly after the initial release. Cinemas now have exclusivity for approximately two months less than during the past.

The reason is consumers now prefer streaming videos and SVoD services. The result is a decline in incentives for running movies in theaters for long periods of time. Studios are releasing movies exclusively for the services they provide, further decreasing the availability of films in theaters. In the past, between 20 and 25 films were released by the six major studios including Walt Disney, Universal and Paramount.

Today, the same studios are releasing fewer films. This signifies a shift in power. Films are being released and shown to the consumers by Amazon and Netflix. Hollywood can no longer rely on box office revenue due to digital content. Profits have become dependant on advertising revenue and subscriptions as opposed to releasing television series and movies.

Optimizing new releases for specific schedules, holiday weekends or primetime slots has become a thing of the past. Increased engagement is the current goal. Lost earnings have resulted in bundled subscriptions created to increase revenue. Nearly half of all tickets sold are at cinemas. With films released right to the consumers, the profit margin is threatened.

Theatrical releases have been bypassed leading to boycotts and disputes. The biggest impact is expected to hit independent theaters. The exclusive rights to movies are generally given to the major chains. Some people believe the cinema operators are consolidating to survive. Others are targeting consumers with loyalty programs based on important consumer data.

Technology is being used for the integration of communications systems to effectively target consumers attending the theater on a regular basis. The benefits are only available to the largest movie studios. Fewer films are now available, with the impact questioning the future of Hollywood. Disney has become important for the growth of the industry.

Despite the key six franchises only achieving revenue growth of 10 percent since 2000, Disney has more than doubled its share during the last 10 years. Financing movies has increased in risk due to COVI-19 due to the increased cost of insurance and health security. Raising capital is more difficult for smaller studios. This might result in a decrease in film diversity.

Distribution has been affected due to theater consolidation. Smaller studios may have to rely on alternative options for the promotion and funding of new films. Gaming companies and SVoD services are now enjoying a slice of the revenue once provided for Hollywood. Whether or not Hollywood will recover remains to be seen

Meghan Markle Carving New Path To Hollywood Following Brief Taste Of Royal Living

It hasn’t been easy for Harry and Meghan, but they are slowly adjusting to their new lives with baby Archie far away from Buckingham Palace and the U.K.’s long tradition of monarchy.

H and M Reinvent Themselves

The Duke, 35, and Duchess of Sussex, 38, ‘stepped back’ in January as senior members of the royal family to create a new destiny and a life of purpose. The pair are hoping to split their time between living on Vancouver Island and in sunny Los Angeles.

Before she married Prince Harry, Meghan Markle had a solid career in the television series called “Suits” in the role of Rachel Zane. She enjoyed acting, and rumor has it that the Duchess got quickly bored with the royal lifestyle. Now, away from the royal bubble, she hopes to regain her popular following as an up and coming star, and Harry fully supports her ambition.

With Energy Out Of The Gate

When Meghan and Harry got engaged, she suggested to the media that she was retiring from acting and welcomed a new change. She was excited to begin working with Harry as a team. She had been on “Suits” for seven years and had made her mark in the entertainment field.

Now, she had the opportunity to bring new energy and ideas with the prince to a global platform. She would take her new role seriously and with respect because her voice was now one that people were listening to. Meghan wanted to strike a proper note.

Her Royal Duties Weren’t Enough

The Duke and Duchess were photographed often by famous British royal photographer Arthur Edwards. He covered their every move in public and could see how Meghan had captured the hearts of the British people, but slowly, things started changing. A toxic relationship had developed between Harry and the media. He began shutting them out, and it was unusual to see his once normal, happy demeanor disappear.

Edwards blamed Meghan for Harry’s sudden coldness to everything royal. He believes that royal living just wasn’t enough for Meghan, and he says that the couple could not have it both ways, half in the U.K and the other half in the U.S.

The photographer says that being patrons of charities demand a lot of time and being immersed in a community and its people.

MM’s Job Is Truly Magical

Disney is called the Most Magical Place On Earth, and that appears to be where Meghan is headed. She nailed a great gig, and it looks like Harry set the wheels in motion for his partner.

The pair was on the red carpet of the “Lion King” premiere in July 2019. Harry mentioned to then Disney CEO Bob Iger about Meghan being available for voice-over work.

London sources say the actress already performed her role and did the voice-over before the couple’s six-week holiday break. It’s a win-win for everyone as she signed the Disney deal in return for a donation to the wildlife charity “Elephants Without Borders.”