Cannes Film Festival and the Transformation of the Movie Industry

Maria Rua Aguete, Senior Director of Media and Entertainment at Omdia was invited to present groundbreaking research insights at the 77th edition of the Cannes Film Festival. In her new blog series, Maria recounts her firsthand experience witnessing the intersection of technology and cinema at one of the world's most prestigious entertainment gatherings.
 
The Cannes Film Festival is one of the most renowned and glamorous events in the world of cinema. Held annually in the picturesque city of Cannes on the French Riviera, it has been a beacon for the film industry since 1946. Over the years, it has hosted legendary figures such as Sofia Loren, Grace Kelly, and countless other icons who have walked and continue to walk its famous red carpet each year. The festival is not only a celebration of cinematic artistry but also a stage for premiering some of the world’s most anticipated films.
 
And here I am gearing up to delve into the significant transformation unfolding within the movie and TV industry particularly consumption patterns of this content. One constant remains: our enduring love for movies persists, yet the landscape of where we watch them has evolved. It has expanded from traditional venues like cinemas and pay TV to embrace the emergence of new FAST (Free Ad-Supported Television) platforms.
 
One of the pioneers and global players in this space is Pluto TV, which this year celebrates its tenth anniversary.

So, what is a free ad-supported platform doing at a film festival?
 
New research from Omdia and PlumResearch reveals that a staggering 43 percent of all viewing on Pluto TV is attributed to its FAST movie channels. This data highlights Pluto TV’s dominance, with six of the top ten most-watched channels exclusively dedicated to movies.
 
In my talk at Cannes, I'll be emphasizing the enduring popularity of movies as the most cherished genre among Pluto TV's viewers. It’s fascinating to see how much people love their movies on this platform!
 
Omdia has been closely monitoring the evolution of FAST channels, and the trends are clear: in both the United States and Brazil, FAST channels have overtaken Pay TV in popularity. Our latest consumer survey revealed some significant shifts in viewing habits. In the US, a whopping 60% of video users now turn to FAST services like Pluto TV, Tubi, and Roku on a monthly basis, which is higher than the 55% who prefer Pay TV services like Comcast or AT&T.

The trend is similar in Brazil, where 47% of viewers choose FAST channels over the 45% who stick with Pay TV. The top performers in the US FAST market include Tubi, Roku Channel, Freevee, and of course, Pluto TV. In Brazil, Samsung TV Plus, Pluto TV, and LG are leading the charge.
 
This shift in viewing habits signifies a growing appetite for diverse and accessible content options. It’s a substantial milestone in the evolution of entertainment consumption. Pluto TV, in particular, has been a pioneer in this space. It was born from a contrarian vision aimed at resolving the paradox of choice, and its introduction of free ad-supported television (FAST) has fundamentally altered the media industry's landscape.
 
I am thrilled to present these findings at the Cannes Film Festival and to highlight that FAST is now a premier destination for movie lovers and an essential part of the expansive video content industry.
 
The world of streaming is constantly evolving, and platforms like Pluto TV are at the forefront of this transformation. Stay tuned for more updates and insights.
 
And who knows, I might make it to the red carpet like Grace Kelly did!

To read more insights and analysis covering market trends and industry forecasts prepared by Omdia’s Media and Entertainment practice, click here.