Global entertainment market topped $100 billion for first time in 2019 - Axios

Global entertainment market topped $100 billion for first time in 2019 - Axios

Illustration: Sarah Grillo/Axios

The global entertainment market, which includes box office and in-home entertainment (streaming) revenues, topped $100 billion last year — a first for the industry, according to a new report released Tuesday by the Motion Picture Association of America.

Why it matters: It's looking unlikely that 2019's bombshell success will carry over into 2020, given the unprecedented stress that Hollywood is facing due to the global coronavirus outbreak.

By the numbers: The U.S./Canada box office was $11.4 billion in 2019. The international box office also surpassed $30 billion for the first time.

• Global home/mobile entertainment reached $58.8 billion. 
• Eight markets had box office totals of $1 billion or more. 
• More than three-quarters of the population, or 268 million people, went to the cinema at least once in 2019, which is slightly up from 2018 levels.

Yes, but: The film industry is on pace to lose billions of dollars due to the deadly coronavirus outbreak around the world, according to analysts.

• While the out-of-home entertainment industry is expected to suffer — movies, theme parks, concerts, cruises, etc., — in-home entertainment is expected to fair better with more people staying home, likely glued to their televisions.

Go deeper: Movie industry braces for major hit due to coronavirus

Let's block ads! (Why?)

2020-03-12 07:16:59Z
https://www.axios.com/global-entertainment-market-record-36bef1b3-68cf-49c0-a0be-f611d5dccd11.html
52780659682228

Bagikan Berita Ini