The rental of films and television shows has risen again in recent months, but the industry is still experiencing a shortage of rentals, according to a new report.
The report, released by Rentrak, estimates that the film industry is only able to process around 2,300 rental orders per week, compared to an average of 8,000 during the same period last year.
Rentrak’s new report said that the rental industry was also seeing a surge in the number of movie trailers, and that a large portion of this growth was due to the film studio releasing a trailer of its upcoming release, such as the upcoming film “Hands of Stone.”
“While movie rental has seen a steady increase in recent years, the film and television industry is experiencing a supply shortage,” Rentrak President and CEO Joe Munchow said in a statement.
“Rentrack’s new research underscores the need for additional investment to create a strong and growing movie rental industry.”
The report also notes that rental demand for content was growing, but was not outpacing the supply.
“The number of movies and TV shows that were being rented has increased over the past year, with the increase being driven primarily by the release of new and upcoming films,” Munchou said.
The industry is not just experiencing a scarcity of rentals.
Rentrak says that, at the same time, the industry has a shortage in the supply of production equipment to rent, and it’s also experiencing a lack of available talent.
Munchow cited a variety of factors that are contributing to the shortage of talent in the industry, including the fact that many film producers and studios are using technology to streamline their production processes.
As the industry continues to grow and develop, Muncho says it’s critical that studios and filmmakers are taking advantage of the growing number of content creators to make the movies and television programs they want to make.