Hollywood's digital-only future is quickly approaching. Though the studio hasn't made an official announcement, the Los Angeles Times is reporting that Paramount Pictures has become the first major Hollywood studio to phase out 35-millimeter film for its big theatrical releases in the US. The first digital-only release, according to the Times, is the best picture-nominated The Wolf of Wall Street, which debuted in the US on Christmas day. Anchorman 2: The Legend Continues, meanwhile, will be the last to be distributed on 35mm.

'The Wolf of Wall Street' is just the first

Though Paramount has reportedly abandoned traditional film in America, it will still ship movies using the format to other regions, including Latin America. While the majority of movie theaters in the country have made the switch to digital — an estimated 92 percent of American movie screens support the format — there are still some holdouts due to the high price of digital projectors, which can cost in the neighborhood of $70,000. Those theaters may have to make the investment soon, though — Paramount's shift is expected to be just the first of many, with other major film studios following suit shortly.