The global events of 2020 meant that many industries were on the back foot, faced with sudden closures and unable to continue operations as usual. For Hollywood, the choice was stark: find another way of reaching the audience or risk financial ruin.
And in true Hollywood style, that’s just what they managed. Responding quickly to the needs of a changing world, Hollywood has reinvented itself and has emerged from 2020 as a winner.
Here are some of the ways that Hollywood managed to create an alternative revenue stream despite the many restrictions in place.
Bricks and mortar casinos took a hit during 2020, with recent circumatances preventing them from allowing the usual crowds of customers to visit. However, for several years online casinos have been rising in popularity, and in the last year, many people have discovered how much fun it is to play online.
Online casinos include all the usual table games that you’d find in a physical casino, such as roulette, poker and blackjack. They also have many slots, and that’s where online casinos have an advantage. Being able to fit all the best slot machines into a physical space can be challenging, especially with new games being released so regularly. Online casinos don’t have this problem, which is why there is such an enormous and diverse range of slots to play online.
Hollywood recognised the potential of hooking up with slots quite some time ago, but during 2020, this has proven to be an unexpected source of income. Speaking to a member of PartyCasino, who belong to the Entain Group and MGM, multiple online slots revenue channels have delivered when physical casinos were unable to operate.
There are many TV shows and movies that have been made into slots in recent years. Everything from Peaky Blinders to Game of Thrones has been converted into a slot game in response to massive public demand. Studios know that players love branded slots, so they will pay millions to acquire the rights. Up to £200 million to purchase the rights to develop a game is not unusual, giving film studios a brand new stream of revenue income.
Many years have passed by since it was common to pop down to Blockbusters to rent a video on a Friday night. Streaming services have gradually become mainstream, with services such as Netflix and Amazon Prime watched in millions of homes worldwide.
Until recently, Disney hadn’t been part of the online evolution, but that all changed in 2020. The launch of the Disney+ channel came at the perfect time, providing revenue during a period when the lucrative Disney theme parks were forced to close.
Hit shows such as The Mandalorian and Wandavision (2021) have helped to pull in subscribers. With their ownership of many franchises, Disney+ is already commanding the attention of audiences who have been tempted by the promise of further Star Wars and Avenger spin-off shows.
Netflix has around 198 million subscribers, and Disney aims to knock the streaming giant off its perch. In 2020, the fledgeling Disney+ service reached 74 million subscribers, far exceeding the parent company’s predictions.
Disney have already announced a stream of big-name new shows coming to their streaming service in 2021, making their intentions clear. The last 12 months have proven that even when other channels are redundant, an online streaming service can still bring in substantial profits. As the Mandalorian himself would say, “This is the way”.