We're seeing a hyperactive advance in technology ladies and gentlemen.
Philip Bloom, the cinematographer from the UK whose videos and blogs I follow, has done three Hitler parody videos when new technology surrounding HD video DSLRs have been released... THREE in the last 12 months or so!
The latest is about the 550D (
http://www.dpreview.com/previews/CanonEOS550D/) which basically does the same thing as my Canon 7D, but at half the price.
Now with the emergence of 3D video cameras in the consumer market... All I can see now is within 1-2 years, we will be viewing video content in 3D from our homes, and student films will embrace 3D as it did with HD a few years ago.
Video artists will love this as well.. imagine, not only being off your face on drugs, but the images actually appear real!
So where does this leave cinema in the next 10 years? Will consumers overtake the film industry because of access to these technologies? Nope... But the standard has been raised like when home video cameras were popularised in the 80's/90's.
What do I see happening?
The resolution of film has to continue to rise exponentially and we will be watching 4k movies at home in less than 5 years time. 3D will be as present as HD tv channels are now. Video cameras with the 3D ability will be everywhere, and while people will be dazzled by this feature at first, they will eventually go back to a focus on story-telling and characters. Tapes will be dead but eventually solid state cards will be replace with cards that are almost unlimited in storage (holographic).
I actually feel film will become synonymous with TV, and that serials will be streamed online and you can purchase downloads for movies to your TV (already happening, but at higher volume). Cinemas won't be dead, but people will often have friends over at their home theatres instead of going out.
Film distributors will consider releasing the latest films straight to home theatres for premieres, but there will be a backlash from cinemas, and they'll eventually come to a compromise by delaying home theatre released for about a month or two... before video stores get it, so they make more money between cinema - and - holodisc.
I should stop before my brain explodes. Oh and the world doesn't end in 2012, and the producers of the movie go into hiding, but not John Cusack because he's cool.