Hollywood Banks on Cloud-Based Movie Storage
Studios in Hollywood are set to launch their UltraViolet cloud-based movie storage. This “digital locker” service is expected to boost movie sales by attracting consumers to the cloud.
According to Lisa Richwine from reuters.com, this service will enable movie buffs to keep purchased copies of films on remote servers. UltraViolet cloud-based movie storage allows a person to view movies of his choice any time on a range of devices.
For many months now, studios in Hollywood are facing losses due to companies such as Netflix that offer unlimited monthly rentals in a cheap and convenient manner. This trend is set to change now thanks to the “buy once, play anywhere” initiative by Hollywood studios that allows movie lovers to purchase film discs offered with UltraViolet.
Richwine notes that this format will allow instant streaming of movies or downloading them on devices ranging from videogame consoles to tablets and Web-ready televisions. “UltraViolet offers more value for digital ownership. You can stream wherever you are,” said John Calkins, executive vice president of global digital and commercial innovation at Sony Pictures Home Entertainment. “Consumers are starting to understand the benefit of storing other types of content in the cloud,” said Matthew Lieberman of PwC’s entertainment, media and communications practice.
Although UltraViolet cloud-based movie storage appears to be a good idea there are few studios in Hollywood that do not want to embrace the idea.
Few studios such as Walt Disney Co are not backing this initiative. Apple that sells movies through iTunes has also not backed UltraViolet. However, many studios are backing this concept and hope to see the growth of digital lockers, which are still in their early days.
Time Warner unit Warner Bros is selling DVD and Blu-ray discs with UltraViolet rights for adult comedy “Horrible Bosses” and superhero flick “The Green Lantern.” Paramount and 20th Century Fox have also signed on to UltraViolet, says Richwine.
By Anuradha Shukla
- Bank of Korea Predicts Growth of FinTech Industry in South Korea - January 20, 2017
- ServiceNow Acquires Machine-Learning Company, DxContinuum - January 18, 2017
- Cisco Introduces New Data and Analytics Training Portfolio - January 17, 2017
- Oracle opens start-up accelerator in Israel for cloud innovation - January 16, 2017
- BCG Survey Names 50 Most Innovative Companies - January 12, 2017