English: Photograph of the facade of the Metropolitan Opera House at Lincoln Center, New York, New York. . (Photo credit: Wikipedia)
The Metropolitan Opera made a major move a few years ago when it decided to distribute live performances in HD to movie theaters. This allowed opera lovers to experience their favorite shows without being present at an actual Opera. According to MediaShift, since then, this has been used as a model for digital innovation, and some say Hollywood should try and follow in the Met’s steps. Instead of staying on track with a traditional business model, the Met took a risk and ran with it.
Now, the Met’s televised broadcasts read 1,600 theaters in 54 countries, and every season the HD audience amounts to about 3 million versus only 800,000 at the opera house. Last year the Met generated $11 million in revenue from its HD movie theater shows after just five years of operation, but this innovative business plan came out of addressing the Met’s core problem: reaching more viewers than the opera house could hold. This required them to find the “adjacent possible” and to transform their traditional presentation.
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