A new study indicates that streaming services like Netflix aren't really killing movie theaters. Netflix has been around since 1997, but has seemingly added more and more titles each year. The streaming service has created several critically acclaimed TV series such as Daredevil and Stranger Things, and has also started to dip into creating feature-length films.
While early Netflix original movies didn't generate a lot of buzz, Netflix started to get people's attention once they started buying movies from well-known movie studios. Netflix has made headlines by purchasing the rights to highly anticipated films such as The Cloverfield Paradox and the recently released Mowgli: Legend of the Jungle, which otherwise would have received a full box office run. Despite both of these films doing rather poorly with critics, they were considered to be a huge win for Netflix since they not only built up their library of content, but also built strong connections with major movie studios. Given Netflix's ongoing success, many were left wondering if streaming services would one day take over movie theaters completely.
According to Variety, a new study by EY’s Quantitative Economics and Statistics group points to the conclusion that streaming services are not killing movie theaters. The study's findings concluded that movie theaters and streaming services actually aid one another, rather than hurt each other. The result was that, "Those who saw nine or more movies at the cinema averaged 11 hours of weekly streaming compared to the seven hours of streaming reported on average by those who saw one to two movies at the multiplexes." The study also found that while these streaming services aren't hurting movie theater revenue, they are eliminating people's needs for cable-based subscriptions.
While Netflix has definite plans to continue expanding, including doubling their amount of original content, they aren't the only streaming service that is on the rise. Hulu, Prime Video, and HBO Go are some of the other popular streaming services on the market, each of which provides exclusive TV shows. Warner Bros. also launched DC Universe this year, which allows people to stream DC movies, comics, TV shows, and other original content like Titans, and the upcoming Doom Patrol. Likewise, Disney will also launch Disney Plus in 2019, which will stream several new exclusive TV shows and movies as well.
Needless to say, going to the theater to see a movie and staying at home are both entirely different experiences. Many people enjoy going to a movie theater to see a blockbuster on the big screen, but some people just like to stay at home and watch a movie in the comfort of their home. With that in mind, it's reassuring to know that streaming services like Netflix aren't really hurting box office success, but are rather just a complementary form of entertainment.