COVID19 has hit the world by storm reshaping our lives! Experts say this is only the beginning. As things stand, the movie industry has lost over $5 Billion in box office revenue. Some industry experts are saying that the loss could hit $20 Billion by June 2020. Medical experts are saying that a vaccine is about 2 years out. For now, the only thing we can all do is to wash our hands and avoid large gatherings. So, as people self quarantine and isolate themselves, almost all businesses are seeing grave losses and the movie industry is no exception. In fact, COVID19 is hitting the movie industry right in the achilles heel; the first run cinematic release window. You see, the value of a movie is determined by its box office performance and movies are required to have a theatrical run to be eligible for some major awards. So, what is the movie industry going to do????
The fact is, Venue’s pay-per-viewer model is the only real and feasible solution for streaming ticketed entertainment to the home. Venue TIKIT counts the number of viewers during the stream of a cinematic release and ensures the number of tickets match the number of viewers. If there are less tickets than viewers e.g. more people walk in the room, Venue will pause the stream and facilitate more ticket purchases- just like a movie theater. Venue is a very simple system to use. Connect Venue into the HDMI port, the power outlet and connect to the internet. You’re ready to go within minutes. Using the provided remote, access the Venue app for cinematic first run content or seamlessly access your favorite streaming services all through one sleek device. We at XCINEX truly believe Venue instantly creates a tremendous value add to anyone’s home entertainment setup. The real magic however takes place behind the curtains!
Venue is designed as a digital marketplace. This means studios and content owners have full control of their titles. They can set release dates and price tickets per-person for each title according to release market e.g. rural, suburban or urban. With Venue, each title can be released by zip-code accuracy so areas where exhibitors are playing that same title can be geo-fenced out. Under COVID19 circumstances, Venue can provide the necessary information to studios and content owners to cut in exhibitors on each ticket. Venue, as digital exhibition marketplace, can keep the industry moving forward and support the exhibitors during these hard times. Uniquely, pay-per-viewer works just as good for live events and performances. So, under the current circumstances, Venue could be very beneficial to more than just the movie industry.
The last critical question is how to get millions of Venue TIKIT devices to consumers? With industry help is the honest answer. For example, if the studios and content owners said lets go, between Comcast, AT&T, Verizon and Spectrum, Venue could be in millions of homes within just several months. So, the solution is Venue but the question is, what will the industry do?