The 'widescreen' format is a more aesthetically pleasing shape. It lends itself better to strong and dynamic composition - 4:3 is a visually boring and limiting format. Widescreen is also more of a natural shape - it's closer to the format our eyes use. That's why cinema adopted it 60-70 years ago - to stay ahead of the competition from TV. TV is now slowly catching up - broadcasters and TV maufacturers are adopting widescreen as the standard and soon the 4:3 format will be history.
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