00:00However, it was only a matter of time before the digital camera killed the film camera.
00:04As digital cameras got cheaper and cheaper, fewer and fewer people were buying film cameras.
00:08By the early 2000s, Kodak was losing millions of dollars every year.
00:12They were desperate for a new plan.
00:14The answer, however, was right in front of them, the whole time.
00:17They had been ignoring it for years, but now, they had no choice but to embrace it.
00:22Digital Photography
00:23Up until this point, Kodak had been resisting the digital photography market.
00:27They were worried that it would destroy their film business, and in a way, it did.
00:31But the digital photography market was growing so fast that Kodak could unafford to ignore it any longer.
00:36They needed to get involved if they wanted to stay relevant.
00:39So, in 2004, Kodak announced that they were getting out of the film business and focusing on digital photography.
00:45This was a risky move, but it was the right move.
00:47Today, Kodak is one of the leading brands in the digital photography market.
00:51They sell everything from digital cameras to lenses to printing services,
00:54and while they don't dominate the market like they used to with film, they are still a major player.
00:59And they've been able to stay afloat despite the ever-changing technology.
01:02So, Kodak has been able to see if they're not going to be able to invest in digital photography.
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