The Decline of Film

Over the last decade the film industry has been sinking. Less people are going to see movies in theatres, less people are watching movies at home, and less movies are being made. According to the Observer, over the last decade and a half the number of people attending movie theatres has dropped by 38%. Film companies are downsizing and disappearing. A couple of notable losses include 20th Century Fox being sold to Disney and Paramount Global is for sale. Netflix is moving away from making original movies because shows are gaining more popularity than films. The decline of popularity in film is leaving the industry reeling as they try to adapt to the changing times.

History of Film

The Golden age of film was right when the transition from silent films to “talkies” began and lasted until the 1960s according to entertainment magazine Backstage. This era of filming laid the foundation of movies as we know them today. Rules were made during this time that held importance throughout the entirety of the 1900s. These rules prevented most sexual content, what angles should be used, and how characters should be framed based on their background. There is debate of when the Golden Age ended with people believing it ended anywhere from the 1940s to the 1960s. due to the court cases that ended the monopolies made in the film industry, the loss of power of the censorship the Product Code enforced, and the start of independent films.

The early 2000s led to the rise of streaming platforms with them dominating the entertainment industry during the 2010s. This sparked the decline of the film industry. Film took a major hit during the pandemic with most theatres having to temporarily and even permanently close down due to quarantine. Numbers have climbed since the pandemic companies have yet to hit the same amount of attendees that they had prior to 2020.

Changing the Industry

More people are watching shows than movies, which means companies are shifting over from movies to television shows. Film studios need to change the medium that they use to deliver content. If people are not attending the theatres, then they need to deliver their content through streaming or look at other business ventures. Film industries need to to change their content as well to make it more appealing to the audience. Universal provides a variety of products and services that allows them to keep going even as film studios lose traction. Their businesses include theme parks, travel, games, and music. By investing in so many entertainment avenues, Universal can continue to make films for dedicated theatre goers. Universal Picture fans can continue to look forward to the amazing films the company produces because of all the different sections that the company has. The company is working to adapt to the changing times while producing the films that their fans love. Youtube and social media is taking up a lot of attention and are now competing with films and shows for viewer attention. This competition is hard to beat, but can be counteracted by raising advertisements of movies on these platforms. One common marketing campaign that has risen due to social media is the use of influencers with high follower counts collaborating with a company to promote the goods and services they provide. The rise of these advertisements will help to garner awareness and attention from a younger audience. As companies make adjustments in their advertisements, employees will need to learn new skills in social media advertising. Access Forbes article of social media’s role in marketing through this link: https://www.forbes.com/councils/forbesbusinesscouncil/2023/01/19/how-social-media-is-changing-business-strategies/

Universal Pictures Stands Strong

Universal Picture stays firm in their commitment to provide quality movies to their audience because of the impact they have on their audience. The Head Project Manager of Universal Gene Dobrzyn states that “Universal is dedicating its resources to working on franchises that the public wants to see like ‘Jurassic Park’ and ‘Fast and Furious.’” These projects not only provide the films that audiences want to see, but ensure the success of Universal. Dobrzyn shares how their company remains successful through the use of different investments such as having a travel department that provides an experience for audiences, producing music, and creating games. These departments cast a wide net that keeps audiences engaged in their company even if they are not interested in one area of their company.

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