Topic updates
Netflix and the Future for Cinemas
25th February 2019
This BBC Reality Check clip looks at the impact of Netflix on the cinema industry - and represents a way into a lot of issues. Innovation, theory of the firm, cross price elasticity of demand, and so on.
Netflix has revolutionised the way we watch 📺 and tonight the streaming service could win at #TheOscars with a film not first shown in cinemas.
— BBC Young Reporter (@BBCYoungReport) February 24, 2019
So @BBCRealityCheck has asked the question: Is streaming killing the cinema industry? https://t.co/Wci2kdOGKV
You might be surprised be some of the results - and this has interesting implications for your thinking regarding the cross price elasticity of demand of Netflix with respect to cinema. And this might be even more interesting if you look at individual consumers.
And, as an added bonus, there's also some Theory of Knowledge material for IB economics students too, as the issue of causation is also touched upon.
Netflix was by far the highest grossing iPhone and iPad app in 2018, bringing in 790 million dollars.
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