3 Ways Theater Chains Can Combat Netflix
Kyle Weckerly
Theaters have been steadily losing to streaming services. Now big movies are coming to streaming services. Here's three ways theaters they can compete.
3 Ways Theater Chains Can Combat Netflix
As streaming services like Netflix continue to dominate, theaters must find innovative ways to compete and draw audiences back to the big screen. Here are three strategies that theaters can employ to stay relevant:
1. Embrace the Change
Theaters should embrace the evolution of media consumption by integrating streaming services into their business model. This could involve hosting special screenings of popular streaming content, offering exclusive theater-to-streaming experiences, or partnering with streaming platforms to create unique viewing events. By combining the convenience of streaming with the immersive experience of the theater, they can attract a wider audience.
2. Fight Back
Theater chains need to negotiate better terms with Hollywood studios to reduce the high percentage of ticket sales that go to the studios. By achieving more favorable revenue-sharing agreements, theaters can lower ticket prices and concession costs, making a night out at the movies more affordable and appealing. Additionally, offering loyalty programs, discounts, and promotions can help draw in cost-conscious moviegoers.
3. Innovate
Innovation is key to differentiating the theater experience from home viewing. Theaters can enhance the movie-going experience by offering amenities such as luxury seating, gourmet food options, and premium formats like IMAX and 4DX. Interactive and immersive experiences, such as "Flick-Syncs," where audiences participate in live-action versions of their favorite scenes, can turn movie-watching into a memorable event. Additionally, hosting themed events, film festivals, and educational screenings can attract diverse audiences and create a sense of community.
The Importance of Community and Experience
Creating a sense of community and offering a unique experience are crucial for theaters to remain competitive. By hosting events that bring people together, such as Q&A sessions with filmmakers, community fundraisers, or special interest group screenings, theaters can become cultural hubs that offer more than just movies. This sense of belonging and the opportunity for social interaction are advantages that streaming services cannot replicate.
The Role of Technology
Incorporating the latest technology can also enhance the theater experience. High-quality projection systems, superior sound, and comfortable seating can make a significant difference. Offering mobile apps for easy ticket booking, personalized recommendations, and loyalty rewards can streamline the customer experience and build long-term relationships with patrons.
Conclusion
Theater chains must adapt to the changing landscape by embracing streaming, negotiating better terms with studios, and innovating to offer unique and memorable experiences. By focusing on community, technology, and enhanced amenities, theaters can create compelling reasons for audiences to choose the big screen over their living rooms.
Relevant Links
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- Can You Watch Netflix on HughesNet
