In 2020, movie theaters closed down, concerts and tours were cancelled, performing arts were cancelled, sports without live spectators became a thing and businesses halted overnight leaving hundreds of thousands of people out of work. So far, 2021 continues to be devastating for the ticketed entertainment industry but there is a solution… VENUE!
MOVIES: It doesn’t need to be like this! The studios don’t need to destroy the ticketed model or lose their box office revenue. Studios can cater directly to the home with XCINEX’s patented technology and replicate ticketed exhibition. Something we can probably all agree on is that SVOD and AVOD are long term plays best suited for long form episodic content. Keeping users sticky is the name of the game. Well, a ninety minute movie doesn’t really do that. Movies are short stories and due to Covid19, they are being used as fillers for streaming services that are actually fueled by long-form content. This is fine to a degree because let’s face it, not all movies are meant to have a theatrical run. Netflix makes a ton of them for example. Which is also why, as a consumer, nobody associates Netflix with quality major blockbuster movies. However, as a major studio with a global brand that consumers associate with major tentpole projects, why use your $150M-$200M movies as a filler? Doesn’t that just destroy the value of that entire project and possibly hurt your brand? Doesn’t that also hurt the people that are betting on the box office revenue and getting paid on the tail end of the project? Why not use VENUE to expand your theatrical footprint into tens of millions of homes and after 17 days or so, move it to your own SVOD or AVOD service for everyone that couldn’t catch it in the first two weeks? VENUE is designed to increase box office exponentially and still give the streaming services plenty of value after the premium theatrical window.
LIVE EVENTS: To set the stage, I’m referring to premium live events like concerts, musicals, standup comedy, opera, Broadway, Las Vegas Shows, boxing, mma, fashion shows, etc… The current landscape for live streaming is getting crowded and seems like each month a new platform is born into the mix. This is fine because it gives artists numerous channels to grow their fan base. Basically, they are great marketing tools but artist don’t really make money on these platforms. Once the artist does all the hard work to build a fan base, the monetization models implemented are not artist friendly at all. These live streaming services have either free users, paying a low monthly subscription users or paying for a single session user e.g., $10 to watch X artist perform live. This doesn’t work out apples to apples when compared to selling out the Madison Square Garden. Unfortunately, Covid19 continues to devastate the industry but VENUE can turn each home into the Madison Square Garden and revive the ticketed entertainment business. With VENUE, artists’ own their content and manager their own campaigns; setting ticket prices and keeping a majority of each ticket sold. Learn more at www.xcinex.com and follow our journey on social media.
