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The Rise of Home Theater
Another trend that’s been accelerated by COVID is the move away from movie theaters.
They were already struggling due to the high prices and bad experience, with a few boutique exceptions, but with fewer people being willing to cram into a box for over an hour this will get worse.
Warner Bros. is releasing all 21 of their movies in 2021 to streaming the same day as the theater release.
Combine this with falling prices on giant, high-quality TV screens and the fact that Netflix, Disney, and HBO are producing such great content that’s being sent to their streaming platforms earlier, and it’s just a bad mix for theaters.
I think some will survive, like Alamo Draft House, and others that have a truly premium experience, but most will elect to stay home and have a better experience for less money.
I think people will double-down on their home setups and we’ll see the rise of Shared Viewing technology, where you can both watch the movie and see and hear your friends at the same time.
This is not only technically possible and will give another reason to stay home, but it’ll let you watch with your perfect friends for what you’re watching—who can live anywhere—not just those who live in the same town.
I’m definitely heading in that direction myself, e.g., upgraded audio, better screen, etc., and the surveys indicate many others will do the same.