Where have the film audiences gone?

As we head into the second half of 2025, I wanted to share some scattered thoughts on the chilly state of the media and entertainment industry.

- THOMAS SUH

A favorite parlor game these days is asking at every social gathering, "What are you watching?" Quickly followed by, "When was the last time you went to the theatre?" The results, while more empirical than scientific, are alarming. Of the twenty non-industry folks I've asked over the past few weeks, exactly zero have stepped into a movie theatre in 2025. Some haven't gone in over a year.

Yes, my methodology is about as rigorous as cooking a hot dog with a magnifying glass, but one thing is clear: Audiences have never been this hesitant to return to the theatrical experience. Why that is could fill far more column inches - and require more IQ points - than I currently have on hand. But one thing's certain: If this trend continues, going to the movies may soon be treated like a rare cultural outing. Opera, anyone?

Each new quarter brings more data confirming YouTube's relentless growth. What was once a niche app on the fringe has now fully replaced TV, radio and music apps as the first stop for content consumption. One of the most fascinating things about YouTube is how it has rendered the role of the gatekeeper essentially obsolete.