Annual movie box office sales have declined almost every year since 2002. So how is the film industry staying afloat? An infographic from Allmand Law reveals that the film industry is avoiding bankruptcy thanks to…drumroll please…the Internet!
‘How Is the Film Industry Avoiding Bankruptcy?’ takes a look at the multitude of ways that the film industry is minimizing costs and maximizing profits through tools like cloud computing, web video, social media, viral marketing and more, using popular films like Paranormal Activity, Hot Tub Time Machine, Hunger Games, Twilight, and The Hobbit as examples.
The infographic also takes a look into piracy and how much it hurts the film and television industry. They report that “some speculate it costs the U.S. $58 billion annually (this figure is in dispute).” But networks are taking precautions to prevent piracy. According to the infographic, one-third of the 21 new shows that debuted on major U.S. Networks in the fall of 2012 premiered early online to generate buzz or thwart piracy.
Check out the full infographic to find out more and let us know what you think in the comments below.
Megan O’Neill is the resident web video expert here at Social Times. Megan covers everything from the latest viral videos to online video news and tips, and has a passion for bizarre, original and revolutionary content and ideas.