Why TCM and Classic Films Matter in the Age of Streaming | Charts
The influence of classic movies on modern culture is immense, and there remains a high demand for these timeless works, which is why many in the industry viewed Warner Bros. Discovery’s move to lay off key executives and otherwise reduce staffing at Turner Classic Movies with such alarm.
Parrot Analytics’ demand data — which takes into account consumer research, streaming, downloads and social media, among other engagement — allowed us to compile a list of the top 10 most sought-after movies released before 1970, which form a substantial part of TCM’s catalog.
These movies all achieved outstanding demand levels within the first five months of 2023, above the 97th percentile for the U.S. market. This suggests that despite a market saturated with modern blockbusters and franchises, classic films still command substantial attention from audiences. For streaming services, a quality library of such films contributes to retention. Warner’s Max streaming service has a TCM hub, but film fans are concerned that such placement lacks the same prominence and editorial distinction that the linear TCM cable channel does.
Stanley Kubrick’s iconic sci-fi film “2001: A Space Odyssey” currently ranks first among classic movies and continues to be a cornerstone of the genre. It’s followed by two musicals from the mid-20th century, “Mary Poppins” (1964) and “Song of the South” (1946). Some of the films derive a portion of their enduring appeal from their legendary stars, such as Audrey Hepburn in “Roman Holiday,” Humphrey Bogart in “Casablanca” and Judy Garland in “The Wizard of Oz,” who still enjoy considerable popularity today.
Other movies, such as Alfred Hitchcock’s critically praised “Rear Window” and Orson Welles’ “Citizen Kane,” have earned their classic status through the outstanding work of their directors. Completing our top 10 are two films loved by children and adults alike, the animated “Dumbo” (1941) and the musical fantasy “The Wizard of Oz” (1939).
During the first year of the pandemic, the demand for classic films surged dramatically, increasing by nearly 60% compared to January 2020. This growth far outpaced that of movies released post-1970. During the pandemic, audiences may have sought comfort in picking movies, and classic films provided that.
This heightened demand kept up until October 2021, when it reverted to pre-pandemic levels. Since then, the demand growth for classic movies has been more gradual, an understandable trend given the finite number of films released before 1970 and the gradual return to a more normal release schedule for new films. As of April, though, the demand for classic films remained robust, with a nearly 30% increase compared to the demand seen in January 2020.
Daniel Quinaud is a senior data analyst at Parrot Analytics, a WrapPRO partner. For more from Parrot Analytics, visit the Data and Analysis Hub.
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