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Does the ability to own every movie on dvd ruin the fun of seeing these films that used to be shown once a year?
Perhaps for some it might, but for some films being shown on TV as a yearly event, it's the sense of tradition and the annual nature that creates the occasion. One could make a traditional Thanksgiving meal anytime of the year but the special occasion goes beyond the meal to other things like getting together with family & friends.
Pre- VHS, DVD or Netflix and streaming movies there were mainly 2 places to see films, the movie theater and what was shown on TV. Rarely you might be able to see a movie at school or the home town library as an event. So when a favorite film was scheduled to play on TV arrangement, planning and anticipation all worked into the viewing.
Snacks & Beverages maybe, friends or family participating at commercial times. Think Superbowl party but not as intense. As a little kid knowing that classics like "The Wizard of Oz" was coming up next week would have me all excited. later I'd look forward to Marx Bros., WC Fields or every Easter / Passover time seeing "The Ten Commandments" would be a thrill.
I don't know if others sometimes experience the lack of thrill when you can see a film any time and wind up being un-enthused because it's become too easy, it does happen to me. But traditions, special occasions and having friends or family to share the occasion with makes it much different perhaps because of the sharing aspect of the event.