Film Producers Adapt to Competing in a Digital World

Film producers are becoming innovative to compete in a world that is ever-changing with new technologies that are being invented and changing the film industry. The digital tools are playing a significant role in helping film producers reduce demand uncertainty, engage customers to live and respond to challenges that are brought by new technologies that disrupt established channels (Franklin et al., 2013). The digital tools help the movie producers remain competitive despite the challenges that come with the increased use of technologies. The innovations have made it easier for the consumers to access the films without or with little costs as opposed to before, where consumers could only access the films when through purchase. The digital tools help producers cope with such challenges.

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The research topic on the use of digital tools in managing uncertainty entails the role played by the digital tools in eliminating uncertainty. The roles including protecting the copyright and the originality of the films, there are many people who copy ideas of other movie producers and use them to produce films that mimic other films in the industry (Franklin et al., 2013). Films have storylines that they tell and share certain ideas with the consumers. Once the theme and the storyline are accessed by their parties, then the original film producers have to change the storyline and the theme of the film and thus incurring more expenses, which brings uncertainty.

The frequent disruption of the film value chain makes the film producers remain with the digital social tools as their only way to keep their relationships with the consumers once the value chain has been disrupted (Franklin et al., 2013). The disruptions that occur make marketing harder for the film producers because the new innovations become more popular than the old ways previously used. There are new challenges that come with innovation; hence the film producers cannot embrace them without knowing how they operate and the risks involved. Many of the innovations seek to exploit the film producers and other stakeholders in the industry; hence more time is required to review the innovations.

The digital tools also help the film producers to understand the experience in other platforms and technologies through the feedback that they get from the consumers. The experiences of the consumers influence the decision the film producers will make to counter the disruptions that occur when innovations happen. The merits of the investigation are that the investigations help stakeholders in the film industry to get ideas that can solve the challenges in the film industry. The investigation will ensure that the film producers prepare for the uncertainties they are likely to experience and come up with strategies to counter the uncertainties.

The uncertainty in the film industry causes the revenue that the film's producers earn to reduce because the innovations are meant to make the innovators exploit the film industry and earn a profit. The digital tools make the film producers overcome the disruptions from the innovators that are meant to change the film industry. The digital tools provide new marketing and distribution channels that respond to the threats brought by the innovations. The interventions are strategic towards disruptions of the innovations that aim at changing the film industry. Change is inevitable; therefore, the digital tools ensure that the film producers are not displaced from the industry.

Data on research done to evaluate the use of digital tools by film producers indicates that people are embracing technologies that make them have convenience in accessing films. The data indicates that digital tools enable film producers to sell films and earn income. The consumers are able to connect with the producers and facilitate the exchange. The platforms that allow consumers to watch the films have evolved over the years; therefore, digital tools ensure that there is uniformity in how the consumers access the movies.

In the independent film, there is uncertainty for both the consumer and the producer. Still, some independent film studios have successfully managed to transform the uncertainties into risks they can manage effectively (Pokorny et al., 2019). Each season there are large numbers of films released, and neither the producer nor the customer can predict which film be a hit. The film producers have turned the uncertainties into manageable risks by creating annual portfolios of films. The objective of this is not to maximize profit for the individual films but rather to maximize the returns from the portfolio (Vogel, 2015). The portfolios are highly diversified and contain films from different genres, stars, screenwriters, and directors. In these portfolios, some films will become a hit, and also in the portfolios, the consumers get a variety of films.

There has been a decrease in the revenues generated from the sale of DVD and TV rights hence the need for adopting digital tools (Brooks, 2018). There has been a shift from DVDs and cable networks to the internet, thus increasing the films' audience. The internet streaming platforms have provided independent filmmakers with an opportunity whose content may not have been aired in mainstream media. The film producers, therefore, can compete with other producers and get revenue based on whether the audience likes the content or not. Therefore, this means that even the upcoming filmmakers have a chance of presenting their work to the audience and generate revenue. As long as a film producer has quality content, then their film stands a chance of becoming a hit. Netflix, for example, is a streaming platform that buys content from influential filmmakers. By subscribing, the audience has access to a variety of genres. Film producers also generate revenue by selling tickets through the box office (Zhang et al., 2009).

If there were no digital tools, film producers would face challenges competing with innovations that disrupt the film industry. Technologies keep on changing in favor of the innovators that exploit the producers and leave them without earning the profits that they used to get. Without the digital tool, the film producers would be unable to reach the consumers after the disruptions from the innovations. What if there were no disruptions? The film producers would not innovate ways to streamline the film industry because they would be comfortable to continue with their film production without interruptions. There would be little innovations that improve the film industry.

What if the innovations disrupt the film industry and make the film producers unable to cope with the changes? The innovations have the potential to change the film industry in a manner that changes occur in how films are produced marketed and sold. When the innovations manage to disrupt the film producers, then the use of digital tools also change because the film industry would be dominated by a few players who will have the best innovative acceptable by the consumers. Once innovators disrupt the film industry, it would be challenging for the film producers to regain control of the industry.

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