According to Miramax CEO Mike Lang, the future of the home entertainment industry and movie production rests in cloud-based digital locker UltraViolet.
Warner Home Video and Sony Pictures Home Entertainment are among the studios rolling out sellthrough titles this fall, which are capable of being stored on UltraViolet and then played on various compatible devices.
“As an industry, we really have to believe it,” Lang said in a Q&A session at MIPCOM in Cannes. “We really don’t have choice. If the home entertainment business as we know today, in terms of the transaction business, goes away, that’s not good for anyone in this room.”
“Lang said failure to reinvigorate the sellthrough model could adversely affect studios’ ability to finance movies going forward,” explains The Hollywood Reporter. “Sales of DVD/Blu-ray Disc/electronic sellthrough movies have historically affected whether a title was profitable or not.”
Lang suggests the digital transaction model has not always been clear to consumers, especially in terms of compatibility with all the available devices and different ecosystems. He points out that Netflix has been so successful due to its ease of streaming on multiple devices such as Blu-ray players and game consoles.
The Miramax exec believes the studios need to partner with tech companies and retailers moving forward to develop a cohesive strategy. “I don’t know how many people use photo sharing software, but that is 90 percent cloud-based,” he said. “Ninety-five percent of the software industry in the world is now through cloud-based transactions. I’m hopeful that the movie business gets there.”
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