Are straight-to-streaming film releases likely to catch on among Brits?
During last week's Super Bowl, Paramount unexpectedly released the third instalment of the Cloverfield franchise directly through Netflix rather than giving it a mainstream cinema release. A trailer for The Cloverfield Paradox was shown during the sporting event, before the film was made available for fans to watch online straight after.
It’s been reported that Netflix paid Paramount $50m for the exclusive rights to the film, but is this new way of accessing the latest film releases what consumers want or would they prefer to stick to the cinema?
What do fans think?
The data indicates that the third instalment of the Cloverfield series was a good choice of film to trial as a Netflix-only release, with a lot of crossover between fans of the film and Netflix subscribers. YouGov Profiles data shows that 50% of Cloverfield fans use subscription services to watch films compared to a third of the general public, and 45% have used Netflix in the last 30 days, 1.7x above average.
However, even this subscription-savvy audience aren’t likely to want this to become a trend. Half of Cloverfield fans agree with the statement: “I prefer to watch films when they come out at the cinema”, compared with just over a third (35%) of the general population.
How could cinemas be affected?
Aside from consumer doubts, this type of deal could also be a worry for cinemas. All of the big chains could lose custom as a result of the film not getting a theatre release, with Odeon potentially being hit hardest. Over half (55%) of Cloverfield fans are either current or former customers of Odeon, while 46% have previously visited Vue, and 40% have been to Cineworld. And despite the latest instalment’s less than positive reviews, the fact that predecessor 10 Cloverfield Lane took $2.3m in the UK on its opening weekend suggests theatres have missed out on a significant chunk of revenue this time around.
However, the money Cloverfield fans saved last weekend could entice them out for another sci-fi release next month. The upcoming Pacific Rim sequel gives an opportunity for Odeon and its competitors to tempt these moviegoers back to the cinema, with YouGov Profiles data showing Cloverfield fans are significantly more likely than average to be a fan of 2013’s original Pacific Rim release. Ways Cloverfield fans could be enticed include tailored advertising (46% agree that they’re more likely to engage with adverts that are tailored for them vs 36% of the general public) and Twitter (used by 43% of Cloverfield fans in the last 30 days, vs 31% of the public).
Learn more about YouGov Profiles.
