When Movies Met Innovation: An Untold Love Story
The experience of going to an in-person event - whether it be a movie or sports game - is starting to lose its lustre. In today’s world, consumers are open to embracing the latest technology and trying out the newest forms of content consumption but we've reached a tipping point where the entertainment options at home can sometimes be more enjoyable - or at least more economical than leaving the couch. Consumers have too many options for being entertained.
The movie industry is feeling the effects of these changing consumer habits and instead of being afraid of innovation - like so many other industries have made the mistake of in the past - they should be embracing it at a faster rate. Box office sales have been on the decline the past decade, which begs the question: why haven't they?
This panel will discuss the need for meaningful innovation in the movie industry, and why it's necessary for theaters and studios to to start adopting it. They should be leveraging modern technology
- Several other industries have embraced tech trends, from LBS to Big Data, to improve the consumer experience - why have we not seen this as much with moviegoing and what might that look like here?
- What have been the barriers to theaters, studios and other companies in bringing tech innovation to this space?
- Is there anything to lose by changing something that has remained relatively the same in the past several decades, aside from stadium seating and IMAX options?
- Can innovation introduce a “win-win-win” situation? What does the industry have to gain from introducing tech to the experience? What do consumers have to gain?
- The "bowling alone" scenario has its grip on American culture - how do you make going to the movies a social event again?
- Stacy Spikes MoviePass
Marissa B Arnold LaunchSquad