Streaming platforms are increasingly disrupting the global theater and film distribution industry. However, analysts do not believe online video players will kill off cinema as video-on-demand players should mainly be seen as a disruptor in the home TV and video space.

According to Singapore-based industry observer and Celluloid Junkie editor Patrick von Sychowski, by far the biggest disruption takes place in traditional home entertainment, such as DVDs, followed by traditional TV programming.

Established entertainment industries are faced with the challenge that "people can now consume content online anytime they choose, and binge and watch everything in one go," Von Sychowski said in an interview. This does affect the cinema industry, too.

Over-the-top giant Netflix Inc. — known for its day-and-date releases — enraged the National Federation of French Cinemas earlier this year, during the world-famous Cannes Film Festival, when Bong Joon-ho's "Okja" skipped a French theatrical release. Netflix tried to work out a compromise, but that was rebuffed by France's National Film Board.

The Netflix hit met similar resistance outside France: Cinema chains Megabox, Lotte and CGV in South Korea all boycotted "Okja" because of the same objections.

In contrast, Amazon.com Inc., which entered the awards circuit via Kenneth Lonergan's "Manchester by the Sea," followed the traditional theatrical release window.

"Manchester by the Sea" went on to win two Academy Awards and made movie history as the first feature film produced by a streaming platform to win an Oscar.

Netflix bagged an Oscar for "The White Helmets," which was named best documentary short, but the company has yet to have a narrative feature film nominated.

The awards demonstrated that more and more quality film content is being produced by, and made available on, streaming platforms. Cinema chains fear this trend as OTT players increasingly push out high-end productions that will never, or merely for a short period of time, make it to their theaters.

In Asia, rising OTT star HOOQ expanded its six-part "On The Job: The Series" by making the first episode a full-length feature.

The Singapore-based streaming service also recently released its first Thai original movie in cinemas, "Saranair Love You," which will be available to subscribers three months after the last theatrical screening.

Filipino film maker Alemberg Ang, an independent film producer behind acclaimed films such as "Ang Panggagahasa kay Fe," or "The Rapture of Fe," and "Mga Anino ng Kahapon," or "Shadows of the Past," believes it is too early to say whether streaming platforms are empowering content creators in the long run.

"The revenues from these platforms are very small, and it is still not enough to recoup what was spent on [a] film. It helps a little bit, but definitely not enough," Ang said in an interview.

Several of Ang's films went straight to VOD after being shown at film festivals, forgoing a wider mainstream cinema release. For example, "Anatomiya ng Korupsyon," or "Anatomy of Corruption," is available on iflix.

"For mainstream [cinema releases], the reach is wider [and] the chance of earning more is bigger, but VOD is more detailed, more specific," Ang said, adding that online audiences differ in size and type.

Despite streaming platforms' penetration of mainstream film distribution, stakeholders are convinced that movie theaters will ultimately survive.

"Each time a new technology comes along, people think it will kill cinema ... but each time [it] survived because it is a social activity," Von Sychowski said.

Ang concurred, saying that film consumption in theaters will "not be eradicated," even though fewer people may come to the cinema in the future as it becomes easier to access quality film productions at home, he added.

Meanwhile, cinemas are doing their part to keep up with the challenging ecosystem they operate in.

"The experience you are getting in a cinema has changed," according to Aravind Venugopal, vice president of Media Partners Asia.

He said theaters have improved their seating, sound quality and related services.

Venugopal said: "I think it is crucial ... cinema owners and chains reinvent [themselves] to make sure that they are one notch above sitting on your sofa."