Eastman Kodak announced that it has temporarily suspended film production to carry out modernization works at its factory in Rochester, New York. This decision was announced by CEO Jim Continenza at the meeting where the 2024 third quarter financial results were announced on November 13. The company aims to respond more effectively to the increasing film demand with improvements in the factory.
In his statement on the subject, Continenza said, “Our film sales increased in both cinema films and photographic films. That’s why we will take a complete standstill in November. We continue to constantly invest in our production processes, but in order to implement these investments we need to stop completely. “Film is produced in the dark, but we bring light to the factory,” he said.
According to Kosmo Foto, Kodak’s production halt will not result in any shortages in film stock. The company strengthened the stock by increasing production before the study. Continenza said, “We will make more investments by modernizing the factory in November. “This process resulted in us using more cash in the quarter to increase inventories,” he added.
Kodak announced that it doubled its photographic film production between 2015 and 2019, after years when film demand dropped significantly with the rise of digital photography. The company confirmed its commitment to film production at an earnings meeting held in 2023 and stated that they would continue production as long as film demand continues.
Kodak remains popular with analog photography
Kodak’s films remain popular not only in Hollywood, but also among younger generations. While director Christopher Nolan continues this tradition by shooting his latest film Oppenheimer with Kodak’s large format color and black-and-white films, the young generation known as Gen Z is also influenced by the aesthetics of analog photography and conscious shooting processes. Growing up in the digital world, this generation enjoys making more careful decisions in framing and camera settings, discovering the unique experience of working with analog film.
This step by Kodak is considered as part of the company’s efforts to serve both nostalgic and professional user bases. On the other hand, modernization efforts may enable the company to be more efficient in the future with renewed production technologies.