Families and especially mothers are proving to be the main driver for the growth of premium video on demand (PVOD). PVOD is the term for the new trend of major studious releasing movies that would have otherwise been playing at a movie theater. The recent release of Greyhound to Apple TV+ and iTunes is a major example of a successful PVOD release this year. The growth in interest though is very much driven by the lack of the choice to go to the movie theater either because people don’t feel safe going to crowded theaters until the threat from COVID-19 subsides.
According to Mark Orne, Executive Vice President, Cross Platform Group, a qualitative study showed that one of the big drivers for this new form of movie viewing is whether the film can be considered appropriate for the youngest members of a family. It was not expressed this way instead the study used the term “Family Friendly”. But the appeal to families is about more than just the content. It affects the cost of the experience.
Families say that making one purchase of $20.00 is a far better bargain then having to purchase a ticket for a family of 4-5 and add in the cost of any concessions. By getting the movie at home it means they eat their own food, drink their own Coke and don’t have to worry about getting everyone in the car and in seats. This sort of thinking was on full display with the phenomenon that was Trolls 2, which rocketed to number 1 at the end of the Spring and made far more money than the first iteration of the movie did in its theater run. It checked all of the boxes,. Family friendly, available at home, a need for new content. If not family purchases there is definitely a trend towards group viewing.
Apparently given the chance to think a bit about a more substantial purchase affects how they are made. Most of the PVOD rentals include 3 or more people watching the movie and not only that it appears that the preferences of the audience has more affect on the purchase of a movie than say the choice to watch something on a subscription service like Netflix. Apparently given the chance to think a bit about a more substantial purchase affects how they are made.
Despite the numbers of people who look at PVOD as a way to save money half of the people in the study say then plan to get back into the movie theaters as soon as they can. This crowd tends to be younger and male. But theaters could see a down year at which ever point they do reopen as a number of the people polled felt that they would avoid theaters out of concern from the current pandemic with some even saying they will wait till there is an all clear. Until things clear up the good news for the movie industry is that of the people who have purchased movies 70-74% plan to do it again.
