Box office numbers, before the pandemic, haven’t been as strong, and most of that has to do with a changing economy and changing technology. Streaming services are readily available at our fingertips, and they have proven to be more convenient to people who are overworked and underpaid. Think of it this way, do you really want to go to a packed theater on the weekend after having a rough week at work, or would you rather cuddle up on the couch with a bowl of your inexpensive ramen and billion-dollar pizza (not overly priced movie theater popcorn and soda) and stream or rent a newly released film? Exactly! MGM Studios has honestly made the wise decision in this big move in an attempt to keep them alive in the modern film and television industry.
A Brief Studio History of MGM
Metro Goldwyn Mayer, along with Paramount, Fox, Warner Brothers, and RKO, was the film giants of the Golden Age of Cinema (1929-1945). These major studios grew in power thanks to the Great Depression and WWII. Americans would initially go to cinemas to experience the world as which they have never seen before. It was their escape, and at times, source of information. Different film studios have waxed and waned over the years, but MGM, 20th Century Fox, Paramount Pictures, and Warner Brothers remained around, at least for a while.
