Today we will tell you guys about the impact of Netflix on the Entertainment Industry. The year 2020 was a bloating year for Netflix, and it has reshaped the way we consume entertainment. The company added nearly twenty million subscribers in the first three months of that year, and their popularity began to skyrocket from those days onwards. But during those times, some new challengers appeared, such as “Hulu, Apple, Amazon, HBO, and Disney plus” they all have launched their streaming platforms. Still, they are only allowed in countries such as the USA, UK, Australia, and others. Still, there is a way you can watch on these platforms, and that is with the help of a VPN. Like you can watch US Netflix in Canada
, UK, Australia or anywhere with a VPN. Still, they can’t compare them to Netflix because they have allowed other countries to access their application. Because of that, it has continued to laze back on its throne virtually unshattered, and it can be justified by its content spending, which has reached a major Hollywood level. It has been estimated around eighteen billion dollars in 2020, which is more than the combined budget of the industry’s big movie studios. In 2017 and 2018, they also produced eighty original feature-length movies, which is more than all the big six combined.
Two important decisions have been influential to their rise and the decision to replace the postal service with broadband streaming and give subscribers the option to choose from the categories of content. The former was made in the year 2007 by Netflix co-founder and CEO Reed Hastings, and it has since then launched the company's number of subscribers from just one million that year to just shy of two hundred million this past June. Last year their annual revenue was clocked in at twenty billion dollars, and, as we've previously seen, and they're investing that piece of spare change mightily in the production of feature length content, leapfrogging their output past through the major Hollywood players.
This clout has encouraged them to dive into more solemn Oscar-worthy dramas in recent years. And it paid off. This movie captured the three Oscar wins for Roma in 2019 and one for Marriage Story at this year's Academy Award ceremony. It's a ceremony for which they garnered 24 nominations overall, leading all the studios, a historic first for a streaming service.
Hollywood Happy or Not
When the public continues to be in awe that how this entertainment industry has muscled its way into the seat of the dinner table of the Hollywood elites and not everyone in the industry is thrilled to pass them a plate. Netflix's notoriously controversial stance on sending its features out for distribution in theaters had aroused the IRE of several in the businesses (they eventually eased their stance when they had realized the potential of their movies, which can only be eligible for Academy Awards if they have a theater run, however brief). This has made Steven Spielberg, in particular, very vocal in his disdain for their entry into Oscar contention. In 2019 he even lobbied together with the Motion Picture Academy to adjust the criteria to keep Netflix films that were being considered for the Oscar nominations. And major theater groups have also been rancorous, spurning Netflix features due to Netflix's insistence on keeping the time between their film's theater run and their availability for home viewing short and forcing them to smaller independent chains.
But as we all know Pandora has a strict rule on keeping her box lock open once it has been unlocked. Netflix has sparked the shift in the entertainment industry, and it looks like it might be irreversible. Three of the big studios have been forced to emulate their strategies and tactics. Warner Bros. and Universal Pictures have also begun expressing an interest in shorter theater runs. Walt Disney Studios, which has launched a streaming service application of its own late of last year, and has started laying the foundation for cutting out the theater distribution for its movie productions altogether with Netflix. So, if those major movie theater groups are not careful, they could go to the way of Blockbuster much like Netflix has made the feeling of being inside a DVD rental store bot all of that has disappeared from our collective memory
, so too could they bring an end to the feel of being in the padded seats of a movie theater.
And that's all for today; we have you guy's a short article on the impact of Netflix on the entertainment industry. With these developments in play, it's safe to stay; we are standing at the dawn of the next frontier with a far-reaching impact that could very well bring a new dimension to how we interact with movies theatres and what it means to be a movie star and at the end of the whole process its all largely thanks to Netflix that we could so many movies of other countries as well.