When it comes to film, COVID-19 has hugely impacted the way in which the industry works.
Production companies have had to adapt traditional, old-school mindsets, exchanging them for new guidelines and rules that adhere to social distancing regulations and the innovative digital demand from viewers.
Whilst the way in which films are being made may have changed, the desire for new films has never been higher.
Here, GoViddo predicts what the future of filmmaking looks like after COVID-19:
▪ Streaming services – Due to the lockdown, the rise in subscriptions to streaming services skyrocketed. With the closure of many cinemas and the
requirement to stay at home, people turned to services such as Netflix, Amazon Prime and Disney Plus to ensure their entertainment. Over the past few years, we have seen these services beginning to produce their own content, for example Netflix Original films. We predict that this area of the industry is going to continuously expand with more films being commissioned particularly for these streaming services.
▪ Independent filmmaking – As technology has slowly become more accessible, there is set to be a rise in the independent films on the market. People are now buying cameras and shooting content for their own films. Rather than spending lots of money on huge production costs, many budding filmmakers are
focusing on the minimalistic approach to film, such as a focus on one character’s story.
▪ More casting inclusivity – A huge shift the film industry has seen over recent years is in the inclusivity of different voices and stories. Whilst there is still a way to go, we predict that diversity within casts, crews and stories being told will only increase as we move into the future.
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GoViddo is a film investment platform which presents valuable film projects backed by reputable talent (Oscar, BAFTA award winning talent) to investors as investment options. Their investments are low risk and commercially viable. They come into the picture during the private equity stage of the film funding.
GoViddo vets highly qualified film projects based on the following criteria:
• The Subject Matter – whether the subject of project is known and understood by the target audience and the concept has already been proven or the film possesses the most exciting new story waiting to be heard.
• Talent- Talent who are involved in backing the project. The cast should include those known to be proven critically and commercially in the past or the most exceptional new talent awaiting to get a dream break.
• Robust sales strategies- whether the film has a sales agent who/which has sold/distributed successful projects in the past which have generated good returns for investors.
Any sophisticated investor can consider film investment as an additional lucrative option for diversifying funds in addition to or as an alternative to investments such as Equity, Bonds, Real Estate, Commodity, Property or Fixed Deposits.