What the future holds for the Entertainment Industry post-COVID
We’re not quite out of the woods yet with this pandemic.
11:44 22 March 2021
But for many countries, the end is finally in sight with vaccine roll outs promising if not a COVID-free rest of 2021 then at least a presumably clear 2022. The entertainment industry has largely been impacted horribly by the pandemic and the future of cinemas, lime concerts and theatres is very much up in the air. There have, obviously, been major exceptions to this as the “Streaming Wars” have finally begun in earnest with giants like Netflix growing stronger even as new upstarts like HBOMax and Disney+ threaten their place at the top. Other online entertainment, like hitting an online casino and some Ladbrokes free spins, has also seen a major boost in 2020 and the first quarter of this year.
With so much ground shifting and so much up in the air, now is the perfect time to ask, just what will the American and European entertainment industries look like come 2030?
Staying at home vs going out
This is probably the biggest question right now about the future of movies, live music and outside gatherings that will determine exactly which media will thrive and which will, if not die, then at least be severely reduced. Will being forced to stay indoors and distant from people while in public cause people to become used to seeing the latest blockbusters in the comfort of their own home or getting a free front seat ticket to see various musical acts from across the globe? Or will the lack of social interaction cause a resurgence in live music, cinema and other forms of social entertainment?
At this point, it’s genuinely impossible to say.
Will only the biggest and baddest survive?
While it will be interesting to see how major entertainment companies like Disney or Time Warners adapt to a post-COVID world, the biggest worry is for the survival of smaller artists, independent companies and already niche media outlets. Marvel Studios, for example, will do brilliantly whether their focus remains on the big screen or moves to television but what of Marvel’s comics division or the comic book industry in general? Will it be able to weather the economic hardships of COVID-19 when it already faces a shrinking readership and rising prices? And while we all know that Spotify will go from strength to strength what about those indie acts who get most of their money from performing live? A couple of year’s loss of steady income could be devastating to those not played frequently on the radio.
These are big questions and they will need to be answered before too long.