NEW YORK | July 25, 2017 – Drake Star Partners announced today that it released its first report on the Entertainment Technology sector. With the theatrical exhibition business currently at a crossroads, Drake Star Partners leveraged its deep sector expertise and ongoing work around this industry to produce this topical report.
In 2016, the box office had reached a new record, despite the publicity attached to Streaming Video On-Demand (SVOD) services such as Netflix and Amazon Prime. With that being said, the attendance trends continued to be worrisome for exhibitors, with considerable weakness in the under 25 demographic.
Conversely, with the halving of the home entertainment market, studios are pushing for a shorter window between theatrical and the home entertainment window to capitalize on a film's marketing during the theatrical window so that they don’t have duplicate that spending in the home window.
These trends have led exhibitors to increasingly experiment with new technologies to differentiate the theatrical exhibition experience. This report prepared by Drake Star Partners looks into some of these trends and the companies behind them.
This report is the first of many published by Drake Star Partners focusing on Entertainment Technology. This first report looks at theatre / exhibition-specific technologies in North American markets.
Gregory Bedrosian, Managing Partner and Co-CEO at Drake Star Partners headed this coverage effort. He commented: “Our current work in the Entertainment Technology sector gives us a unique vantage point to document ongoing trends and shifting business models across the sector.”
Mr Bedrosian continued: “Whether it is through innovative ticketing platforms, VR, moving seats or subscription models, new exhibition-specific technologies will be central to keep moviegoers engaged and to reassert the theatre experience as unique and cutting-edge. It is our belief that this technological race within the entertainment sector will trigger increased consolidation, M&A and private placement activity, both in North America and on a global level.”
Download the report by visiting our Sector Report webpage.
