The COVID-19 pandemic has been an unprecedented health crisis. It has had a drastic impact on every facet of the worldwide economy, including the media and entertainment industry. Lockdowns in countries with high caseloads have seen cinemas and movie theatres close.
Those that remain open are operating at partial capacity due to social distancing measures.
Unheard Of Changes in the Industry
This has all led to the entertainment taking extraordinary measures such as major films like Trolls: World Tour and Mulan being released via streaming platforms while others such as the James Bond film No Time to Die’s release has been postponed until April 2021. Meanwhile,
other films have seen their production and release dates postponed indefinitely.
Even major industry events have either been delayed, cancelled, or had their format changed due to the COVID-19 pandemic. Many festivals and film festivals like TIFF found themselves with a hybrid format with both physical and virtual events, others such as SXSW, Tribeca, and
the Academy Awards that were held in a completely online format. Then there were the film festivals, like Cannes, that have been cancelled for 2020.
Some of the films to be featured and compete at the various film festivals have put in applications for next year’s festivities, while others have skipped the festivals altogether, going straight to streaming platforms instead.
On a broader scale, it’s important to note the importance that streaming platforms have had in helping keep the media and entertainment industry. During the pandemic, streaming platforms like Netflix, Disney+, and Amazon Prime have seen memberships surge, adding tens of millions of new subscribers each. In fact, streaming has become so popular during the pandemic that these services have limited picture quality to provide relief to broadband networks.
Adjusting to the New Normal
It is going to take time for the industry to get back to normal. As the world recovers from COVID-19, slowly production will begin again and theatres will get back to full capacity. In the meantime, however, streaming is the new normal. With consumers spending more time at home than ever before, many have turned to streaming as a means of escaping reality. This has ultimately resulted in viewers consuming a wider array of content. Consumers are now streaming content, including both music and podcasts, throughout the day as they work from home offices.
The type of content has also been affected by the pandemic, with consumers showing more interest in international shows and movies. This increased interest in cultural content is likely to continue even as the industry slowly stabilizes back to normal. The shift towards international content was confirmed back in June by Netflix CEO, Reed Hastings, stating that Netflix users were consuming more diverse content from different countries and cultures. This also aligns with the streaming giant’s growing interest in international content as they have recently signed a deal for their second original South African series and are launching their first TV channel in France with international content. This growth in viewership of international content is also supported by a growing interest in Anime.
As we’ve already seen with Netflix, we are likely to see an increasing trend towards international content even as the world moves on from the pandemic. Streaming platforms are likely to start offering a wider selection of international and cultural content. Additionally, we could also see a trend towards more international films go mainstream, following in the footsteps of Academy Award Winner Parasite from South Korea.
Reaching a Wider Audience
This increased demand for more diverse content is making it more important than ever before to have localized content. Both subtitling and dubbing make content accessible to wider audiences, allowing films and TV shows to be appreciated worldwide. Most major streaming platforms recognize the importance of localization and are doing great work in providing quality subtitles and dubbed content. This is because they have a well-defined process in place to localize content. Meanwhile, those that do not have such processes in place
are actively working towards it.
While streaming platforms are actively producing localized content, this issue is equally important for smaller content creators. Whether you are a smaller production house or producing content on YouTube, localizing your content will help you reach a wider audience. In order to get the best results, it is essential that the subtitles and dubbing used is high-quality. This will ensure the best possible experience for your audience. Haymillian offers top-quality localization and access services in 64 languages and can help you take advantage of the growing interest in international content. Contact us today to see how we can help you reach new audiences.
