Hollywood encountered a notably eventful period in 2023, marked by challenges stemming from the SAG-AFTRA and Writers Guild of America disputes. Networks, production companies, distributors, and talent all grappled with issues that inevitably impacted the end users—the viewers. The trends and significant decisions witnessed in 2023 are poised to retain relevance today, influencing those involved in or benefiting from the entertainment industry.
Outlined below are ten Hollywood issues to monitor in 2024, encompassing crucial legal advancements, the advent of artificial intelligence, and the future landscape of streaming:
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By 2024, the federal government mandates the disclosure of the “beneficial owners” of nearly every asset. This requirement extends to all industry professionals and their loan-out entities, signaling a shift towards greater transparency. Productions, particularly indie films, often establish LLCs to protect investor interests, necessitating comprehensive disclosure of relevant stakeholders—a development that may catch some off guard.
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The imminent debut of a feature film entirely crafted by AI—from storyline and visuals to cast and soundtrack—promises to provoke strong reactions and intrigue.
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Keep an eye on the proliferation of legal actions targeting AI firms for copyright infringement through content dissemination. The outcomes of these cases could either impede Hollywood’s AI initiatives or necessitate global settlements with copyright holders.
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The subscription video on demand (SVOD) sector witnessed stagnation in 2023 due to escalating consumer costs across tiers and platforms. Conversely, the rapid expansion of free ad-supported television (FAST) and advertising-based video on demand (AVOD) services like Roku, Amazon Freevee, and Crackle has garnered attention. As viewers weigh financial considerations, free streaming may surpass SVOD offerings in 2024.
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Some SVOD platforms may face consolidation or closure, streamlining the market to a select few players—a stark contrast to their previous prominence.
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The decline of the Metaverse in 2024 reflects waning interest in cumbersome, costly VR setups at home. This rise and fall underscore the notion that buzz does not equate to lasting relevance, with future advancements in the sector expected to pivot away from unfinished Metaverse ventures.
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Following the landmark 2023 Supreme Court ruling on Andy Warhol’s Prince artwork, anticipate lower courts’ interpretations and applications in 2024. This decision may lead to diminished fair use protections, potentially altering defenses based on transformative versus innovative use of copyrighted images.
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The global content landscape is set to expand, with countries like South Korea producing compelling original material beyond traditional hubs. Netflix’s increased investments in international productions, particularly in South Korea, signal a broader trend towards diversification and localization among streaming platforms.
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SVOD providers like Amazon are exploring ways to integrate e-commerce seamlessly, paving the way for impulse purchases directly from content streams. Viewers may soon have the option to buy products featured in shows with a simple click.
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Expect a surge in funding from Saudi Arabia as financial flows gain momentum, offering new opportunities for filmmakers grappling with budget constraints. Access to additional funding sources could prove enticing for artists seeking to realize their creative projects.
The entertainment landscape in 2024 will be shaped by external influences such as evolving consumer preferences, financial dynamics, and technological advancements. While change can be unsettling, the potential for growth and innovation presents a promising outlook for industry stakeholders attuned to these shifts. Stay informed, as embracing these transformations could unlock fresh avenues for success in the entertainment sphere.
