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Issue link: https://digital.macdirectory.com/i/1513481
Those kinds of numbers attracted studio bosses everywhere to jump into the streaming business and put that money into their coffers. After all their stuff was better than the tech guys stuff even though studios were making the tech streamers stuff. BAM! more than 200 streamers popped up around the globe all “knowing” they could easily grab millions of valuable subscribers willing to pay “just a little more” for their insanely great content. Simple right? Just turn on the service, charge folks “a few bucks” and they’ll put their seats in their seats and watch endless hours of your great films/shows and everyone sees a big payday. Problem #2 Based on years of extensive and in-depth research by Stephen Follows, less than 50 percent of the films studios produce actually make a profit and if it’s an indie project the odds are even worse. Ok the industry isn’t as shifty as Mel Brooks 1967 satirical black comedy The Producers because most projects are greenlighted with the idea that they’re going to make money. Unless you’re on Wall Street, the odds are against you turning a profit. It’s literally impossible to pin down how many films were produced around the globe last year because some were “theatrical”, some were straight to stream, some were local/regional, some are sitting in someone’s library waiting… IMDb lists 14,301 titles and you could probably double/triple that number, say it with conviction and probably no one would challenge you. But there are a lot of great films wrapped up every year and that doesn’t include the volume of shows/series that were only intended for smaller screens. Remember, ordinary folks who work/sleep/eat/raise kids only have maybe two-three hours a day to watch stuff. In addition, we waste some of that time watching the news to keep abreast of what’s going on around the world beyond the video content industry. Honest to gawd there is more going on than scripted and unscripted projects. In other words, there is simply too much video content to watch which is one of the key reasons Netflix, Amazon, heck all the streamers have pulled shows from their active libraries for…later. In addition to an overabundance of good/great content, they are also expensive to create/produce/deliver (expensive is a relative term). According to Statista the industry employs more than 2.2M to do all this creative magic and pays out about $192B in wages (yes, we know…where’s your piece of the pie?). Studios and streamers haven’t been bringing in as much as they told shareholders the first of the year because of the DGA, WGA, SAG-AFTA strike despite the BS they tell stockbrokers and investors. But they have “saved” money by not being able to do films/shows and haven’t had to spend those huge marketing budgets. That hurts because people need