Kodak faces financial trouble even as Gen Z drives a film resurgence

Clair Sapilewski has dozens of camera films that are always ready to be used in the closet.

A 21 -year -old, a photographic expert at American University, said that he has always stocked his film to get aesthetics that only film cameras can catch.

“He teaches you how to slow down, how to look more carefully at things, and how to choose more wisely,” he said.

Z generation members are part of a trend that continues as they are interested in film cameras. Sapilewski said that while his professors taught him basic information, he and his friends use their film cameras to develop photos that their iPhones could not fully copy.

And the most popular brand for the camera film in the college circle Eastman KodakA company called “home name”.

Sapilewski, “Almost everyone uses Kodak movies – the average film user will reach Kodak when they reach the film.” He said.

However, on the other side of the Lens, Kodak may say a different melody.

133 -year -old photo company specified in the second quarter Profit report On Monday, the ability of his financial situation to continue as a concern of continuing operations “arouses a significant doubt”.

In the second quarter of 2024, the company reported a net damage of 26 million dollars with a 200% decrease in net income. Kodak, millions of debt obligations with a 12% decrease in gross snow.

“Kodak has the debt to be paid within 12 months and does not commit financing or current liquidity to fulfill such debt obligations if they become in accordance with the current conditions.” regulatory file.

The company’s shares have fallen more than 15% to date.

Kodak plans to terminate the pension pension plan and a company spokesman CNBC, Kodak’s debt to pay the debts of the agreement, he said.

“Kodak is sure that he can pay a significant portion of his loan before his maturity arrives, and that he can change, expand, or re -finance our remaining debt and/or preferred stock obligations.” He said.

The company did not fight for the first time.

Rochester was founded in New York Late 1800sKodak, for consumers to simplify the process of photographic wave. However, as the digital technology period took over, as the company came across the film and the disposable materials, it was relevant to remain relevant.

According to Reitzes, Melius research analyst Ben Reitzes, who said that Kodak ignored his concerns about the developing macro environment, tried to keep up with the increasing trend of digital cameras in the 2000s.

“Digital technology was not ready to reduce film sales – but common sense told us differently,” Reitzes said in the March note. “Then Kodak Management said that the film will exist with digital cameras and that more photos will be taken and more should be printed by Kodak.”

Instead, Kodak applied for bankruptcy in 2012. A year later, in 2013, four main business components re -emerged: printed, advanced materials and chemicals, feature films and cameras and accessories.

General Manager Ed Hurley in 2020 He told NBC News Kodak made twice as much film rolls than he did in 2019 in 2019.

And in the third quarter of last year’s earnings, Kodak CEO Jim Continenza said the company had a high film demand to raise the Rochester factory.

“Our movie sales have increased,” Continenza said at that time. “We will continue to invest in this field and continue to grow in this field while we continue to see our commitment and our commitment to our commitment and customer film, still and feature film.”

Accordingly Fortune Business InsightsGlobal cinema camera market size is growing rapidly and is estimated to reach $ 535 million by 2032. Global Wellness Institute “Analog Wellness”-the biggest trend for pre-tidy technology-2025.

According to Alex Cooke, a photo news site Fstoppers, a photography news site, this growth has largely transformed into an old school aesthetics from the hyperalism of digital photography, which is largely “divorce”.

“I think there is this rebellion against digital excellence in which the film is filtered and faced and tested in the world of Hyperace and Tiktok in this type of hyper-scale Instagram and Tiktok.” He said.

For Gen Z members who grow up in the smartphone age, Cooke said that such photography has brought a “inexperienced nostalgia in which young people have made a slow culture romantic and break the instant feedback cycle.

The aesthetics of the film also added cooke, unique colors and cereals caught something that a smartphone could not do. Ironically, he said that social media is even fed to increasing the tendency.

According to Digital Camera World Us editor Hillary Grigonis, using film cameras and development of this film plays in the gene z trend of digital minimalism.

As a professional photographer, Grigonis said that Gen Z was leaning on the feeling of “cutting the connection” while using a film that provides a more concrete photo experience than smartphones.

“Some of the increase in film photography between the gene Z is probably due to the desire to cut this connection and the longing of this retro aesthetics.”

For 25 -year -old Madison Stefanis, Kodak was the point of entry into the camera world. Stefanis, a Gen Z, created a film camera company 35mm Co, which aims to make the photo style easy and accessible for generation.

Stefanis said that youth focused on the emotional connection created by the delayed satisfaction of waiting for the development of photographs, “lost in the digital age”.

Stefanis said that Gen Z was continuing the re -revival of the film, and said that Kodak was “shock” in his interest in his concern.

“Gen Z really plays something they can hold in their hands,” he said. “These days, at least for myself, most of my memories live in my mind or phone, so I think it is really special for my generation to have real concrete, physical objects that we can keep our memories and these key moments.”