Streaming Service Subscriptions Surpass 1 Billion as Global Box Office Craters

After a year in which most people were stuck indoors, it should come as little surprise that streaming platforms skyrocketed in popularity over the past 12 months. For the first time ever, subscriptions to streaming services surpassed one billion, reaching 1.1 billion globally. From a report: At the same time, box office receipts plummeted because movie theaters across the world were closed for a significant part of 2020. Global ticket sales tapped out at $12 billion, with North America accounting for $2.2 billion of that haul. Though the circumstances aren't comparable, worldwide box office receipts totaled $42.5 billion in 2019, with $11.4 billion coming from domestic theaters. Still, it marks a 72% year-over-year decline. These statistics come from the Motion Pictures Association's annual theme report, which is conducted by the entertainment industry trade group and intends to analyze how film, television and streaming content performs yearly. The 2020 study covers a year that was overshadowed by the coronavirus pandemic, making some of the data understandably skewed and difficult to compare box office totals between countries. In Asian countries, particularly in China, the box office has already returned to pre-pandemic levels. That hasn't been the case in the U.S. and Canada, where new movies are few and far between and audiences are returning to theaters at a glacial pace. Outside of North America, the top three box office markets were China ($3 billion), Japan ($1.3 billion), and France ($500 million). Combined, the global theatrical business and home and mobile entertainment market totaled $80.8 billion in revenues in 2020, shrinking by 18% from the $98.3 billion amassed last year. The success of digital home entertainment, which grew 23% to $68.8 billion, helped offset the depleted theatrical box office numbers. In the U.S., subscriptions reached 308.6 million, representing a 32% increase from 2019.

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