Hollywood Keeps Breaking Box Office Records... While Still Insisting That The Internet Is Killing Movies

from the because-if-the-story-sounds-good,-why-bother-with-the-facts dept

Hollywood is still 100% focused on trying to blame the internet for any of its woes, mostly with bogus attacks on internet companies it doesn't like. And yet... it seems to keep on setting box office records. The latest is that Universal Pictures has broken a new record in bringing in $2 billion in box office revenue faster than any other studio in history, pushed over the top by the successful opening weekend of "Straight Outta Compton" (a movie that seems to have some big fans in Silicon Valley).
Thanks to the overperformance of N.W.A biopic “Straight Outta Compton,” Universal Pictures is tracking to cross the $2 billion mark at the domestic box office on Saturday, setting a new speed record in doing so.

Universal’s historic climb will break Warner Bros.’ previous record of reaching $2 billion by December 25, 2009. The studio is also extremely likely to break the record for all-time domestic box office high, which was set by WB in 2009 with $2.1 billion.
That does not sound like an industry that is having a problem getting people into the theaters, even if the movies are available via infringement. But, people will argue, these services are actually harming the "home video" revenue stream. But that's questionable as well. First off, it was Hollywood that angrily fought against ever allowing a home video market in the first place (remember that?). And, more to the point, we've seen over and over again that when the industry actually adapts and offers content in a reasonable format at a reasonable fee, people will pay at home, just like they do in theaters.

But, of course, due to continued Hollywood confusion and jealousy, it's still holding back lots of movies from Netflix streaming -- one successful service that has shown that it's totally possible to "compete" with infringing content.

So, again, it's confusing as to what Hollywood's real complaint is. It's shown that if it makes good films, people will go out to the theaters to see them, rather than just watch them online. And if it offers them in a reasonable manner for a reasonable price online, people will pay for that as well. And yet, it doesn't do a very good job of this and then blames the internet for its own failures to adapt. Seems like a weird strategy. If I were an investor in those companies, I'd wonder why they've spent the better part of two decades so focused on "stopping piracy" rather than doing a better job delivering what the public wants.

Filed Under: adapting, box office, business models, hollywood, internet, movies, records
Companies: netflix, universal pictures

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  1. icon
    PaulT (profile), 18 Aug 2015 @ 7:50am

    Re: The "doomed dinosaurs" in Hollywood are actually STILL doing well, eh? Then YOU have been wrong about them fading!

    "The "doomed dinosaurs" in Hollywood are actually STILL doing well, eh? Then YOU have been wrong about them fading!"

    Ah, I see the problem. You're addressing the fictional strawman reality you set up in your own head where the people here have been saying such things, and where the people discussing them are "pirates".

    In fact, in the real world, it's the MPAA who have been whining about dropping profits and falling revenue while the paying customers here have been trying to suggest ways in which they can increase their revenue and expand their market. We just prefer it be without trying to destroy the internet, reduce their content's value, attack said paying customers or any of the other things you've been supporting. Especially where there are demonstrable areas where poor product and poor word of mouth have lowered profits (the recent Fantastic Four reboot), while there are plenty of examples of piracy being reduced simply by having decent legal options available. What form these taken have changed massively over the years, so it seems a little strange that you oppose any improvement to what's being offered.

    Oh, and a quick style suggestion - if you left out the outright lies, personal attacks and other meandering rubbish that you included here, not only would have saved about 2/3rds of your typing, but you'd have avoided giving the impression that you're an obsessed child. That would get you taken seriously instead of mocked.

    I hope that clears things up!

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