In the spirit of providing a platform for students to voice their ideas and showcase their writing skills, BBS KJS presents to you'Opinion.

How the streaming industry is taking over the film industry

By: Bryan Osten and Sriraharjo Kassapa

With the global pandemic still going, people are still forced to stay at home and aren't able to go out. With cinemas shutting their doors, watch goers are now unable to go to public cinemas and are now reliant on streaming platforms such as Disney + and Netflix.

Additionally, these streaming platforms offer the viewers a huge variety of content, unlike movie theatres. Even if a certain movie or show is not available in that region, viewers are still able to access it with the help of a VPN.

In 2020, the number of subscriptions to online video streaming services around the world reached 1.1 billion in 2020, according to the Motion Picture Association on Thursday.

Furthermore, the animation industry such as Japan's animation or Anime are now more global than ever with a worth of 23.56 billion USD in 2020 and is expected to expand at a compound annual growth rate of 9.5% , reaching 25.46 billion USD in 2021. This is due to the medium's increased availability on streaming services which allows viewers outside Japan to be able to experience the culture.

According to a report from Netflix , more than 100 million households around the world watched at least one anime title on its service in the year to September 2020, up 50% from a year earlier.

Not only that, the Korean drama industry is also on the rise. As of 2019, the South Korean movie industry is worth 10.36 million USD which is a 8.1% increase from 2018 which was 9.61 million USD.

As of now, the market for the streaming industry is still on the rise as platforms such as Disney and Netflix are now releasing box office movies and eye catching shows that are not available at the cinemas with the comfort of watching it at home. Though it is not the last of cinemas as the cinemas are starting to open its doors again and might experience an increase in visitors

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By: Bryan Osten and Sriraharjo Kassapa

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Note:

* The opinions expressed here are solely exclusive of the author(s) and due care has been exercised to avoid any form of plagiarism as much as possible.

* If you have an original write-up that you would like to share, why not be part of BBS Opinion? Send us your .docx file via email to'kjs.connect@binabangsaschool.com'(and do not forget photos!)

* Your writing must be engaging, sensitive, informative, and roughly 200 words or more.'