The uneasy state of screen media - 360
Reece Hooker
Published on October 18, 2023
Disney is celebrating 100 years, but the future of the entertainment industry is up in the air.
Disney is ringing in its hundredth anniversary amid a precarious landscape of on-screen entertainment.
Since its start as a Kansas City film studio, the company has become a global entertainment conglomerate, a juggernaut that dominates media, theme parks, merchandising and more.
With a portfolio spanning Star Wars, GoPro, SportsCenter, The Avengers and the History Channel, Disney has extended its reach far beyond the silver screen.
But it hits the century mark at a time when the future of screen media feels more uncertain than ever.
In 2019, legendary filmmaker Martin Scorsese argued it was a “perilous time in film exhibition” – and then a pandemic struck.
Now the golden age of television could be coming to an abrupt halt: streaming subscription numbers are plummeting, and the big providers are panicking: Netflix is cracking down on password sharing, Warner Bros. Discovery canned near-finished streaming projects in a tax write-off, and Disney is yanking content from its platform (sometimes, leaving creators with no access to their own work).
To add to the mess, a bruising strike by the Writers Guild of America cost California’s economy more than USD$3 billion, due to projects paused or cancelled amid the work stoppage. In September, a deal was struck to end the strike, with writers landing concessions on pay and the use of artificial intelligence in production.
Meanwhile, video games — the rising giant of screen media — are hitting an inflection point of their own.
Microsoft has just sealed a USD$69 billion acquisition of game publisher Activision Blizzard after nearly two years in regulatory limbo. The deal, which could net beleaguered chief executive Bobby Kotich USD$375 million, may reshape the industry.
A key sticking point in litigation with console rival Sony is the status of hit franchise Call of Duty, which Sony fought to ensure would remain available on their PlayStation platforms.
The value of platform exclusivity is an ongoing question in gaming. Microsoft’s mammoth spending on acquisitions suggests the company sees it as the battleground on which the future of gaming will be won.
Their first salvo in the console wars — Starfield — was the biggest Xbox exclusive game in nearly a decade and a massive success, drawing more than 10 million players in its opening month.
There is no doubt that film, television and gaming remain beloved spaces that command huge attention and reshape what is possible through art.
But production costs are higher than ever, creators are unhappy with how much they’re paid, and consumers are hooked on low-priced monthly subscriptions.
It’s clear that new ways of doing business need to be found.
Originally published under Creative Commons by 360info™.