Feature films are only a tap away, and yet the global box office is making more money than ever—raking in a record US$41 billion last year.
Even as we live more and more of our lives online, we still crave in-person experiences. Think back to last spring, when Toronto Raptors viewing parties were everywhere, capped off by a parade that brought together more than one million fans. Then just last month, half a million movie buffs descended on the Toronto International Film Festival.
As technology evolves, one thing that disruption hasn’t upended is the genuine human need for connection. The experience economy is thriving, and every disruptor needs to think about the signal that sends: today’s consumers want to feel like they are part of something. In a global survey by Live Nation, 66% of people said they are “starving for experiences that put them back in touch with real people and raw emotions.”
To learn more about drawing crowds in the digital age, and the disruptive force they represent, we hosted an RBC Disruptors conversation with the co-heads of the Toronto International Film Festival:
- Cameron Bailey, Artistic Director & Co-Head, TIFF
- Joana Vicente, Executive Director & Co-Head, TIFF
The number of households with multiple streaming services is growing at a rapid pace, but Vicente thinks back to the advent of television and the introduction of the home video, and comes out bullish on the future of theatres.
“There’s always been these kinds of disruptions, and there’s always been an answer,” Vicente said.
In an era of constant distraction, the theatre is the only place where you’re told to turn off your phone. You are required to get sucked into the story, to laugh or cry alongside your fellow audience members. And let’s be honest, you can’t beat the projection.
“I think that no matter how good your home theatre is, it’s not as good as what we have,” Bailey said. “Sorry!”
But what stands out about the streaming era is that it’s not just about shifting viewing habits; it’s about the potential impact of data on the art form itself. Directors may find themselves struggling between their artistic vision, and what the data says will get them on Netflix’s list of recommendations.
In our latest RBC Disruptors podcast episode, Cameron Bailey and Joana Vicente explain how they’re tackling the industry’s challenges, and the power of live audience in an age of digital experience.
Listen on Apple Podcasts, Google Podcasts, Spotify or Simplecast
John Stackhouse is a nationally bestselling author and one of Canada's leading voices on innovation and economic disruption. He is senior vice-president in the office of the CEO at Royal Bank of Canada, leading the organization's research and thought leadership on economic, technological and social change. Previously, he was editor-in-chief of the Globe and Mail and editor of Report on Business. He is a senior fellow at the C.D. Howe Institute and the Munk School of Global Affairs and Public Policy. His latest book is Planet Canada: How Our Expats Are Shaping the Future, which explores the untapped resource of the millions of Canadians who don't live here but exert their influence from afar.
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