Comparison of the use of digital and film in the movie industry
Source: Stephen Follows Film Data and Education
As digital photography became more advanced, the movie industry decreased its film usage. Although the increase of digital photography improved the quality of movies, it cost the employment of thousands of people.
"Don't get me wrong. I love iPhones and Instagram, but what I worry about is that Kodak used to employ 40,000 people in good jobs. What have they been replaced by? Twelve people at Instagram."
- Antonio Olmos in an interview with The Guardian, December 2013
Eastman Kodak's Consequences
Kodak suffered greatly from the digital revolution because they refused to adapt to the new digital industry consumers were interested in. Film-related sales accounted for 72% of Kodak's revenue and 66% of its operating income in 2000. When these sales dropped as a result of the new digital photography industry, Kodak was severely hurt.
“But it was filmless photography, so management’s reaction was, ‘that’s cute—but don’t tell anyone about it.’”
- Steven Sasson recalling Kodak’s response to his invention
Kodak could have become a top company in the digital industry, however its poor strategic decisions forced it to file for bankruptcy in 2012.
"Kodak's global workforce has been reduced from approximately 63,900 employees in 2003 to approximately 17,000 employees in 2011. This transition has also led to a financially smaller Kodak, with revenues declining from approximately $13.3 billion in 2003 to about $6.0 billion in 2011."
- Antoinette P. McCorvey in Kodak's bankruptcy filing January 19, 2012
"It's always better to define a business by what consumers want than by what a company can produce."
