Question

D. What strategies can the film industry take to lure back the teens?

Answer 1

The film industries, to lure back the teens, will have to adapt to the tastes, preferences and demand of the teenage viewers. Teenage viewers today are fundamentally different with regards to preference for entertainment and leisure compared to teenage viewers of yesteryears.

Teenagers today are more interested in stream-able content that they can easily access from their tablets and mobile phones at their convenience and free time. Teenagers will go to theaters and multiplexes to watch the blockbuster movies but for smaller movies they will still prefer to stream them. The teenagers today are more knowledgeable as they are exposed to different mediums being offered in the digital world today and so they want to view more interesting stories.

The strategy that the film industry will have to adapt is to provide interesting content to teenagers that can be accessed by them whenever and wherever they like it. The release window will have to be changed and now movies should be made available to rent, buy or download within weeks of their release. This strategy will keep the interest of the teenagers stirred and keep them involved with the offering.

Another important strategy that the film industry can implement to lure back the teens is to commoditize movie tickets, especially in case of small movies and movies that are not blockbusters. Teens can be given the option to buy early and cheaply and watch later at their convenience. This will increase their utility and hence the teens will be propelled to view movies often.

Lastly the film industry should implement a strategy that will make movie watching experience a personalized one. Film industry should enable programming of multiplexes by a group so that a collective action web platform is developed and a group of viewers willing to view a common content can view it at the multiplex of their choice. This will also encourage repeat viewership and screenings and hence will work in favor of the film industry and will attract more teenagers to theaters.