This is an edited transcript.

CHAIR: Welcome to The Times London Film Festival debate: Is home the new cinema?

I’m Mike Gubbins, I’ll be chairing this evening. I’m the editor of Screen International, and I have an interest to declare, working for a film magazine.

What’s become increasingly obvious covering the industry over the last few years, is that there are enormous changes going on. No one would have guessed ten years ago just how important DVD would become to the film companies. That’s where the revenue is coming from these days. I don’t think anyone would really have guessed at the advance of home cinema in the way that it has happened, and the internet’s offered still further opportunities. I think what we’re talking about is very prescient.

Let’s kick off the debate with a man who is going to give us a broader perspective on the issues. Michael G. Wilson is a producer at Eon, who you will know much better as the producers of James Bond. He’s a stepson of [Albert R.] “Cubby” Broccoli, and right now is intimately involved in Casino Royale. He’s the man who is giving out the licenses to kill this evening. Michael, if you would like to come up to the lectern.

MICHAEL G. WILSON: Thank you very much. The question for debate today: is the home the new cinema? I’ve been asked to make some introductory remarks because I wanted to participate in today’s debate, [but] I did not want to argue for or against the proposition. Instead, I was hoping our experienced and illustrious panellists would address several important issues which naturally arise.

What we’re really discussing today is the impact of consumer technology and consumer preferences on the entertainment industry. If we take the proposition as simply put, “Is the home the new cinema?” the answer is clearly, “not yet”. Home cinema is still only a rough approximation of the true cinema experience, and then only at great expense. But if we put the question another way: “Is the home the primary venue for watching films today?” the answer is clearly yes. The public sees far more films in their homes, over cable and on their DVD players, than in cinema. So the question we’re really asking today is: does the public cinema have a future? Will public cinema have to change to survive? And if so, in what way?

This immediately brings to mind a set of other questions. If public cinema does not have a future, or is forced to change too much, how will that impact the film-maker?

Editor's choice

• The 100 Best Films of 2009
• The 100 Worst Movies of 2009
• The 100 Best Films of the Decade