Music labels go streaming and free, while movie studios are still split on what to do
The film industry seems to be of two minds
While record labels and musicians seem to have found a model to earn without delaying many releases, the film industry seems to be of two minds.
The action Bandcamp had on May 1, 2020, when it waived its revenues has raised some serious sums directly for the artists. According to Treble, artists brought in $7.1 million that day, while Rolling Stone is speaking about $4.3 million. According to Bandcamp, “the company explained that the website experienced 15 times more activity and purchases than normal” that day. BoingBoing adds that some artists and labels are opting for the free music solutions I’m hoping that “listeners will chip in to support the artists.” One such label is the legendary Washington DC’s Dischord, renowned for its punk-inclined catalog. The label is making its entire 40-year catalog free on Bandcamp. Of course, quite a number of big-name album releases have been postponed for better times.
On the other hand, the film industry is still of two minds. Most production companies are opting for delayed releases. As Digital Music News (DMN) reports, Lionsgate has again delayed Antebellum, “a slavery-themed horror movie” starring Janelle Monae. The movie was set to be released April 24, but now has a release date of August 21. Of course, doubts are still there that the movie theaters will be open for that, or any other late -summer movies by that time.
Another part of the film industry, like Universal, has opted for the solution of releasing films to streaming service first. Their Trolls World Tour was streamed first and earned $95 million in its first 19 days. As DMN adds, “as a result, Universal says it will release more movies to streaming services first. The move prompted AMC Theatres to sever its relationship with Universal over the announcement.”