Key Takeaways:
* Matt Damon had an insightful discussion on The Hot Ones about the diminishing uniqueness and personal touch in modern films.
* He attributes this change to the rise of streaming services and the decline in DVD sales.
* Personal films now present a bigger risk for studios who need to make a significant profit during the theatrical run of a movie.
Emphasizing the Universal Impact of Streaming on Movie-making
Hollywood actor, Matt Damon recently shared some insider knowledge on the perceived lack of depth in today’s films, credited to his extensive, three-decade-long experience within the industry. During a chat with The Hot Ones, Damon elucidated why modern films opt for a wider audience appeal rather than channeling personal stories, owing mostly to the rise of streaming Services.
Reassessing Revenue Models
Damon highlighted the importance of DVD sales as a significant source of revenue for films in the past. This has since changed with advances in technology resulting in a shift to streaming services. He observed, “The DVD was a huge part of our business, our revenue stream. And technology has just made that obsolete.”
The actor bemoaned the impact of this transition, explaining that previously, even if a film didn’t make all its money during a theatre run, they could count on the revenue from DVDs. This no longer applies due to the rapid decline in DVD sales, causing a direct effect on the movies that are made.
Financial Challenges in Cinema Production
The advent of streaming and other subscription services has increased the pressure on films to recoup their investment during their theatrical run. It demands catering to a broader audience rather than focusing on niche or personal tastes, due to having to make twice the amount in half the time.
Damon relayed how one of the studio executives portrayed the current situation—making a $25 million movie, incurring an equivalent amount towards advertising (P and A), effectively doubles the budget to $50 million. The need to split revenue with exhibitors means the break-even point is closer to $100 million.
The Economics of Broad Audience Appeal
Given these economic realities, even small films now need to target a mainstream audience to achieve the necessary return on investment. As a result, the personal touch in movies often ends up taking a back seat to more generalized themes and narratives designed to attract larger crowds.
This shift in strategy significantly impacts the nature and type of films being produced, potentially endangering the diversity and depth in cinematic storytelling that accrued from smaller, more personal movies.
In Conclusion
The unprecedented growth and dominance of streaming platforms coupled with the decline of DVD sales have led to reshaping of Hollywood’s status quo, according to experienced actors like Matt Damon. The pressure for higher revenues from theatrical runs is compelling the industry to move away from more personal stories, in favor of films designed to appeal to the broader population.
While this change might be commercially sound, it’s clearly not without its critics. The industry will need to find creative ways to balance broad audience appeal with engaging, creative storytelling to truly thrive in the streaming era.
