Streaming Services Dominate as Steven Spielberg Signs With Netflix

What exactly is the future of film and cinema?

Credit: Variety

Steven Spielberg, director of many classics such as Jaws, Jurassic Park and E.T has signed a new partnership with Netflix. Speilberg’s production company, Amblin Partners will now serve under Netflix, producing multiple feature films a year.

A streaming service partnering with one of Hollywood’s most legendary directors comes as a surprise.

“This new avenue for our films… will be incredibly fulfilling for me personally since we get to embark on it together with Ted” 

Source: NME

This deal by Netflix also indicates that the service has noticed other competitive streaming services’ growth and has decided to take action. Although Netflix pioneered the age of streaming services, others such as Disney+ and Hulu are catching up. With old movies and series now spread across different services, the main attraction and selling point for these services will be their movie exclusives.

And having a hold of Speilberg is a major advantage. Speilberg’s name on a movie can market incredibly well regardless of quality.

Speilberg’s Odd History with Streaming Services

Credit: NME

This news is especially surprising, as the award-winning director has actively campaigned against streaming services. Before the pandemic, Speilberg would consider streaming films as lower calibre compared to theatrical movies. He stated that streaming films are not worthy of Oscars but only Emmys.

The global quarantine has since allowed the director to ease his expectations. Speilberg said, 

“Big screen, small screen — what really matters to me is a great story and everyone should have access to great stories.”

Source: Metro

It’s nice to know that the quarantine spared no one of a reality check.

The pandemic also allowed streaming services to grow exceptionally, becoming a multi-billion dollar industry. This statistic prompts us to think about the future of cinema and film as major feature films are working with streaming services. Feature film releases are now giving the option to be able to rent or buy the movie alongside its theatrical release.

What Does the Future Look Like?

Credit: CNET

The future of cinema and film is as unclear as it was 10 years ago. Who could have predicted the massive rise of streaming services? As streaming services rise we watch as the dynamic of entertainment rotates.

Cable Television was not even mentioned at all in the discussion about the future of film. Television will always continue but will probably become an old medium like radios or CDs. Modern cars do not come with a built-in CD player anymore, so the same fate might come looking for DVDs. Television might even become a vintage activity people do once in a while, like Drive-in movie theatres.

Movie theatres are also in jeopardy especially since theatrical releases can be released on the services themselves. Pandemic or not people may be less inclined to visit the theatre as ticket prices increase and the novelty decreases.

Be that as it may, theatres are still staying strong as they begin to open back up again. Phil Zacheretti, President and CEO of Phoenix Theatres Entertainment, in an interview with The Lantern, has expressed no concern for the rise of streaming services.

“There’s no precedent. We’ve never had a movie theatre go through a pandemic in our lifetime…But I’m not worried about streaming.” 

Universal’s Position

The deal between Spielberg and Netflix has raised some questions about universal’s stance. Universal is Speilberg’s main working studio and also has a connection with his production company.

Universal and Amblin productions have been churning out award winnings hits such as The Green Book and 1917. This is not even mentioning the ongoing franchise of Jurassic Park and Jurassic World.

Deadline has speculated that an impasse may occur on the production of the film that is set to be directed by Spielberg about his childhood. The film will cast many reputable actors and have Hollywood’s best in production.

“One would assume there might be some jockeying between Universal and Netflix over a film like that.”

Source: Deadline

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