Advantages

Allows an on-demand viewing, no need to coordinate travel plans or wait for film showtimes. After a long and hard day at work you don't even have to leave your bed.

Provides access to a vast library of films and TV shows depending on the chosen platform. Streaming provides entertainment stemming from the 1900s to present. 

According to Filmtrack, subscription fees can be cheaper than individual movie tickets. The average cost of a movie ranges from $10-$23 compared $6.99 for a basic Netflix subscription. Streaming grants a much larger access to entertainment compared to the rising prices of a single-viewed film.

Streaming services can play a crucial role in supporting independent filmmakers and promoting diverse voices. Dedicated initiatives, funding opportunities, and curated sections for independent films on streaming platforms would encourage the production and discovery of unique content.

Theatrical release is often used as  a qualification for eligibility into major film awards. This can be beneficial for filmmakers and actors to gain critical acclaim and recognition for their works. 

If a film has a high theatrical revenue potential, a producer and distributor are able to recover the expenses lost through promotions and advertisement. This increases the value of the film for those who participated on it. This is a key source of income for studios, so a successful theatrical release can also help boost a film's value for potential streaming rights. 

A successful theatrical release can be a cultural phenomenon that can spread across other media. This can be useful for future marketing, the production of merchandise. As well as potential sequels and spin-offs. 

According to GuSho, theaters are able to provide a immersive experience for the audience. There is a unexplainable thrill being in front of a large screen, with surround sound, and a interactive audience. This is something that can not be easily replicated.