Key vendors are using advanced technology to make movies to increase their sales
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global box office market in their latest research report. This report also lists 9 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated from various business models and types of box office market by different categories.
- Adventure: The adventure film genre has the highest market share globally. Forty-four out of the top 60 high-grossing films of all time belong to this genre.
- Comedy: It is the most preferred genre for the moviegoers. The cartoon-based comedy movies like the Simpsons are watched by all age groups.
This Technavio report, under media and entertainment services vertical, is based on the synthesis, analysis, and interpretation of information about the global box office market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The players in the market compete on the basis of innovative content, reputation, distribution, and global presence. The competition in the market is very intense, and it is maintained by the established companies. The performance of the production companies depends on various factors that include changing consumer spending patterns, domestic and international economic conditions, and demographic trends. The vendors in the market are investing to develop high-quality visual effects to attract more consumers and sustain the competition in the market. The advent of 3D and IMAX theaters will boost the demand for movies with high-quality visual effects. The companies are focusing of new and innovative strategic marketing and advertising techniques to boost their revenues and increase their profitability.
“Technological advances in the movie industry will fuel the growth of the global box office market during the forecast period. Companies are investing in new and innovative content and high-quality visual effects to increase the overall film viewing experience. The vendors are developing 4D technology that enables the audience to experience effects such as breeze, smell, bumps and vibrations during action sequences,” says Ujjwal Doshi, a lead analyst at Technavio for research on media and entertainment services.
Top five vendors in the box office market space
20th Century Fox
The company is driven by innovation and uses the latest movie production and shooting techniques. The use of motion capture and re-imagined 3D by the company is regarded as one of the modern breakthroughs in the cinematic technology. The company also made the epic film Titanic, based on the true story of the ship in the same name that sank in 1912. It was the highest grossing movie until the release of Avatar in 2009 in the same banner.
Paramount Pictures
Paramount Pictures is engaged in the production and distribution of films, and it markets, distributes and sells digital and home entertainment content for television. The company offers a wide product portfolio including classic movies, recent movies, and interactive gaming applications through digital distribution sites like the iTunes. It also manages the global licensing of studio content and distribution across the globe through various digital platforms such as online, mobile and portable devices, and emerging technologies.
Sony Pictures
The company makes motion pictures and television, acquisition, and distribution of services across the world. It also offers film clip and still licensing services to advertisers, publishers, and entertainment productions and a licensed access to its library that includes clips, dialogue, one-sheets, stills, and other thematic elements.
Universal Studios
Universal Studios produces and distributes motion pictures and provides filmmaking services through its backlot locations, broadcast studios, and sound stages. It also produces both feature films and television programs. Recently, the company entered into multi-year partnership with Amblin Partners to market and distribute films.
Walt Disney Company
The company owns Walt Disney Parks and Resorts, Disney Media Networks, and Disney Consumer Products and Interactive Media. It monetizes the distribution and marketing operations by distributing films that are totally financed and produced by third parties. It is a leader in the marketing and distribution of feature films.
Other prominent vendors in this market include CBS Films, Dreamworks SKG, Focus Features, IFC Films, Lionsgate, MGM, Miramax, and Weinstein Co.
A more detailed analysis is available in the Technavio report, Global Box Office Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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