Altman Solon: Hollywood Moving Past Pandemic Survival to Permanent Hybrid Virtual/On Set Production|||

Altman Solon’south Global Video Production Survey finds cost savings, large project backlog, and increased appetite for original content are moving industry to more virtual

LOS ANGELES–(BUSINESS WIRE)–Long defined by elaborate sets and busy craft service tables, Hollywood moving-picture show and video production has gone virtual over the past ii years, fueled past pandemic concerns, the need to accelerate delayed production, and the insatiable consumer need for new content. Survey data, released today past Telecommunications, Media, and Technology (TMT) consulting firm Altman Solon, plant that virtually lxx% of industry respondents conceptualize expanding virtual product, and more 60% will increase their utilize of remote collaboration tools and cloud-based technologies fifty-fifty after the pandemic has ended.

Altman Solon’s first Global Film & Video Production Survey gathered data from more than 100 industry executives – experts from picture/TV studios, production companies, advertising, streaming/OTT, broadcast media, post-production, music, and live entertainment – beyond productions in 30+ countries, spanning North America, Europe, and Asia-Pacific.

“The pandemic turned global Tv set and movie production on its head and forced the manufacture to improvise and innovate,” said Altman Solon Director Derek Powell, who oversees the firm’southward new Los Angeles office. “Altman Solon’s survey indicates that some of the innovations built-in from necessity will outlast the pandemic – and are changing the way TV and movies are made.”

The survey found:

  • Soundstage capacity constraints will continue to drive more virtual production.
  • A hybrid of remote/virtual production and on-gear up processes volition become more than common in productions.
  • Virtual production employ volition drive down costs and bicycle times, at least over the long term.
  • The manufacture will see a transition from leveraging point solutions to implementing cease-to-end platforms beyond diverse phases of production.
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Production Backlog, Increased Content Demand Driving Modify

Altman Solon found that at least 30% of projects – on hold due to the pandemic – have been pushed into 2022, creating a need to employ new technologies to intermission the backlog. At the same time, with the contest for content among streaming services, networks, and motion-picture show studios, global content spend is expected to grow by an average of 7% annually – with an estimated $330B valuation past 2027.

Producing original content to come across demand is putting the spotlight on improving operational efficiency through the adoption of new technologies and innovative solutions. A majority of respondents anticipate expanding their virtual productions (67.1%), collaboration tools in support of remote workflows (61.ix%), and cloud-based technologies (62.6%). The largest increase in spending will go towards virtual productions, as manufacture experts get more familiar with this approach and conceptualize the continuation of hybrid productions postal service-pandemic.

Hybrid Benefits

Survey respondents are seeing benefits to incorporating virtual technologies into production and mail service-production activities. Travel costs and staff fourth dimension can be conserved by combining on-set filming with remote collaboration and virtual workstations. Post-product and review cycle fourth dimension can be profoundly reduced by using the cloud and virtualization to make changes. Rather than sequential, in-person editing and collaboration, virtual changes are fast, efficient, and save equipment, personnel, and travel costs.

“I’ve never washed virtual shooting before and what took me 6 hours on my laptop would have been ii cantankerous-country flights….and the end production was just every bit good.”

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……..Video Production
survey respondent

While the industry is seeing the benefits of virtualization, in that location are headwinds at play. For early on adopters, higher upper-case letter costs related to new applied science investment can slow downward deployment. The survey found more half of respondents reluctant to invest in virtual and remote solutions cited budget constraints every bit the primary reason. Other potential challenges include the lack of process standards, a fragmented market of production solutions, and a lack of tool compatibility.

Altman Solon opened the Los Angeles function, its 13th global office, in early 2022, establishing formal roots in the global hub of the Media & Entertainment industry. The team, which currently consists of xviii consultants, has plans to add more LA-based consultants over the coming months. The new office supports the continued growth of Altman Solon’s media practice, attracts local talent with industry expertise, and enables Altman Solon to more than finer serve clients in the media sector.

About Altman Solon

Altman Solon works with market leaders, challenger brands, and investors across TMT sectors. We support our corporate clients in identifying, developing, and implementing company strategies, new market entry approaches, digital innovation, and global M&A. Nosotros help our investor clients understand markets, conduct due diligence, and make high-stakes decisions with confidence. Altman Solon has an extensive international reach with offices in Boston, London, Los Angeles, Mexico Metropolis, Milan, Munich, New York, Paris, San Francisco, Singapore, Sydney, Warsaw, and Zurich with successful projects completed across the globe in more than 100 countries.

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