Beanbag Entertainment receives positive response from cinemas
Open to refining strategy to address industry needs
Perth, Australia, 14 Nov 2017 - Emerging Australian movie streaming service Beanbag Entertainment is modifying its initial concept of streaming films on day one of their theatrical release to address the concerns of cinema owners.
Ash Oliver, Beanbag CEO and co-founder, said that he has received encouraging feedback from cinema owners and managers who are open to a streaming platform but proposed a more balanced approach.
“Cinema owners have expressed great interest and provided positive feedback about our new business model and strategy. They suggested that streaming movies four weeks after their initial release would allow people to see movies at the cinema, whilst providing the opportunity to watch them online soon after without heavily affecting cinema attendance. It will also bring the latest movies to a streaming platform sooner than current practices and provide an alternative viewing experience for those that are unable to attend a cinema.” he explained.
Beanbag has also carried out further research, which showed that this strategy, whilst still being attractive to the public, would be less detrimental to cinemas.
“More than 83% of people we have surveyed said they would watch a movie on Beanbag shortly after they have seen it at a cinema. This certainly suggests that people would still like to see a movie at the cinema for the experience it provides, and they would also like to watch it again online and in the comfort of their own home,” added Oliver.
Beanbag’s survey also showed that 72% of people find it difficult to view movies after they have finished screening in cinemas and need a service that reduces the confusion surrounding release windows for different platforms.
“It isn’t easy or convenient to find and watch movies when they are no longer showing in cinemas and aren’t yet available on a platform that consumers may use (known as the dark zone). People don’t necessarily like to buy DVDs, sign-up to monthly subscriptions, or use technically complex products they aren’t familiar with,” remarked Oliver.
Oliver pointed out that 88% of people still want to see Beanbag on the market even if it would not stream movies from the initial day of release.
“There remains a huge demand to view movies four weeks after their initial theatrical release through a service that is easy to use and affordable. By making a movie accessible online while it is still generating buzz, it will remain in the public’s consciousness. People will still get excited about watching it again or for the first time at home.”
Beanbag has so far polled over 5000 people from 60 countries as part of its research on the viability of online streaming during a movie’s theatrical release window. It has also released initial designs for the streaming platform.
“We believe cinemas, distributors, and Beanbag Entertainment can work together to achieve a beneficial outcome for customers and the industry. We will continue to collaborate with all parties to find a sustainable solution to streaming during the theatrical release window that will be mutually beneficial to distributors and cinema chains worldwide.” said Oliver.