Referring to the way films are distributed after their initial cinema release, he said: "I think the model will change and you won't pay for the window of availability.

"A movie will come out and you will have 17 days - that's exactly three weekends, which is 95% of the revenue for 98% of movies.

"On the 18th day, these movies will be available everywhere ubiquitously and you will pay for the size," he said.

The pricing model he suggested was $15 (£9) per film for a movie-sized screen, $4 (£2.40) for a 75in (190cm) TV and $1.99 (£1.20) for a smartphone.