It's Usually Unusual19 Dec, 2016 By: Stephanie Prange
The industry settled into its usual pattern as 2016 ended, with the Hall of Fame dinner honoring inductees. But again 2016 was by no means a “usual” year. The industry is facing more challenges and changes to its business model.
We’ve got yet another new format debuting: 4K Ultra HD with high dynamic range. It’s a format that could breathe new life into the physical disc, which is the best way to view four times the resolution of HD, with HDR, which produces brilliant highlights, vibrant colors and greater contrast on compatible displays.
We’ve got the growing dominance of subscription video-on-demand services such as Netflix eating into consumers’ entertainment time.
We’ve got new forms of entertainment, notably virtual reality, which could alter the very nature of personal entertainment.
It’s always unusual.
But what stays the same is the quality of people who work in this industry, recognized this month by the annual Press Play: Variety Home Entertainment and Digital Hall of Fame, which honored Universal Pictures Home Entertainment president Eddie Cunningham, actor and filmmaker Jon Favreau, and Epix president and CEO Mark Greenberg, as well as virtual reality evangelist Chris Milk and Google Play, which has been a big player in digital delivery.
“Home video, home entertainment and now digital have been a huge part of my career,” noted Favreau in accepting his award.
It’s remarkable that this more-than-three-decades-old business is still a vital part of the entertainment industry.
And it’s notable that we are once again facing a consolidation in the industry. Just as the video store chains gobbled up smaller stores and chains in years past, Amazon is using its technology and marketplace prowess to assemble a panoply of OTT services under Amazon Channels.
Analyst Michael Pachter sees Amazon Channels as the new pay-TV, a successor to the cable market that has lasted for decades. It’s a development that is both familiar and new, a new way of organizing the home entertainment market that seems to follow some of the usual patterns.