Netflix is a provider of on-demand Internet streaming media. It promotes the motion picture industry while also providing more publicized forum for the expression a culture in the form of film.
Why the Motion Picture Industry is ImportantThe "creative industries led by Hollywood account for about $504 billion, or at least 3.2 percent of U.S. goods and services, the government said in its first official measure of how arts and culture affect the economy. To many peoples surprise, the arts and culture sector outpaced the U.S. travel and tourism industry, which was 2.8 percent of GDP in 2011, based on the federal estimate." (Hollywood Reporter, The Associated Press).
Although the country as a whole has been running a trade deficit. Statistics show that in the art specifically, a 10-year trend of deficits was reversed beginning in 2008. By 2011, the U.S. exported $10.4 billion more arts and cultural commodities than it imported. This correlates with what observers call the "cultural boom." Because this specific art sector "is growing faster than the economy, it is a sign that the arts are becoming more important to the American people as time passes" (Heilbrun & Gray 12). |
Myth of Declining Interest in Motion Pictures(Heilbrun & Gray 13)Although in this graph we see a decline in the admissions of Motion Pictures, that does not accurately depict the success of motion pictures in terms of viewing. Netflix, although it contributes to this admission's downfall, has impacted the rise in creative industries in a good way. Netflix acts a forum for sharing the culture of Motion Pictures on a large scale and has a positive economic benefits.
|