Article from Cass Business School discussing how the film industry could benefit from embracing the new technology that has had a huge impact on music. A huge opportunity is created through digital technology, and if not taken advantage of soon by the film industry, may have disastrous effects. The film industry faces the threat of a massive drop in profits due to illegal trading.Lord Puttnam says "If people want something badly enough, digital technology enables them to get it – legally or illegally.” The film industry must take this on board if they are to continue to make profit in the near future. Although using digital technology can never abolish illegal file copying, it can reduce the impact that it will have on the film's economy.Benefits of digital technology in the film industry
Can reduce distribution costs...don't have to pay for film prints which usually cost $1000 each.
Improves the quality of special effects.
Disadvantages of digital technology in the film industry
Large costs involved with digitisation of cinemas.
Large costs involved to purchase digital filming equipment.
Training involved about how to use the new digital equipment.
In order for the film industry to maintain their level of success, it is important for them to take on board the fact that digital technology can provide many opportunities for them. The digital technology can clearly benefit the film industry a great deal. However, there are some disadvantages that come with the digitisation of the film industry, but without embracing this new digital technology the film industry is undoubtedly going to suffer, similarly to how the music industry has.