As I understand, newer Technicolor movies used Eastmancolor Film, but Technicolor Proceses were also used for them too.
Older Technicolor movies were shot by 3 strip Technicolor Camera.
Earlier color processes could not produce lifelike color. Technicolor was a major breakthrough - much like Lithium Ion vs. NICad rechargeable batteries (NiCads had to be huge and heavy to offer the capacity of a Lion battery - a modem phone with 2 days of battery life would need to be the size of a brick if we were still using NiCads).
Original Technicolor, such as was used for The Wizard Of Oz, used a huge, heavy camera with 3 strips of negative film - one each for red, green, and blue. This was expensive and unwieldy so many films continued to use black and white film. Within 10 years, they were able to get nearly the same color quality out of a single negative, allowing standard cameras to be used, and that caused most movies to be shot in color, but, again, Technicolor had a big lead in single negative color technology, so the brand remained the standard for another decade or more, before competitors caught up.
Wasn't it more about having the name that people recognized? Brand recognition. If your film wasn't technicolor it was seen as inferior.
Initially it was a huge leap forward, but later it just became a marketing thing. Same way having a Dolby soundtrack was amazing at first but then became the expected standard.
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