In the 1980s, experts predicted the DVD would kill the movie industry. No one will go to theaters to watch movies any more, they said. Yet, the best opening for a film (in history) was Avengers: Endgame, which took in a whopping $1.2 billion.
In 2019.
Long after streaming services like Netflix and Hulu throat punched DVDs to death.
Hollywood is still churning out amazing content. And likely will for the foreseeable future. Will technology change how movies are made? Yes, absolutely. But I don't expect AI to kill the film industry any more than Amazon has put Walmart out of business.
Depends upon what you mean by the film industry. If you mean movie and television production, not that isnt going away. However, who is creating it and in control is going to change.
You point to change in distribution. Nothing you stated talks about changes in the development and creation of the content.
That is what is different this time.
Okay, I see where you're coming from. Creation and development will change, of course, and that will lead to new leaders in the industry in terms of creation and content development. That's an always evolving thing in any industry.
There is also the component of decentralization. Right now, we see Hollywood (movie and television) and New York (television) as major epicenters for media. With the advancement of technology on the creation site, we can see companies, large and small, get into the game in different regions.
This is, of course, not limited to a single country. People anywhere will be able to create content that is "good enough".
After all, there was a time when the major news source was CNN. Looking at their ratings, that is far from the case. Most of us get our news online, often put together by some individual who is far from a broadcaster or journalists (at least by traditional metrics).
I foresee a similar things happening with film, television, and the entertainment medium.
It's already happening. I almost joined a group that is connecting script writers with producers without going through the usual agenting channels. I may join them yet. But decentralization of the film industry has already begun.
I am a member of https://adimverse.com/, which attempting the same thing for creators of all kinds including film and script writers, novelists, and other storytellers.
Yep. They might be small now but they will start to grow in size. This is how disruption works.
It happens on the fringes first before really exploding.