12 Aug Consumer Spending on Home Entertainment Grew 22% to $25.4 Billion in the First Half of 2024, Driven by Subscription Streaming [Media Play News]
BY STEPHANIE PRANGE
August 12, 2024 | Consumers spent nearly $25.4 billion on movies and TV shows watched at home and on the go in the first six months of 2024, up more than 22% from the almost $20.8 billion consumers spent in the first six months of 2023, according to DEG: The Digital Entertainment Group. Second-quarter year-over-year growth was 21.2% to nearly $12.8 billion.
The 2024 first-half increase was fueled by a 27.1% rise in subscription streaming, which grew to almost $22.9 billion,i from $18 billion in the first half of 2023, according to the DEG. In the second quarter of 2024, consumer spending on subscription streaming also increased more than 27% to surpass $11.5 billion.
Meanwhile, a theatrical slate with less box office power than in the prior year impacted consumer spending on transactional releases in the first half of 2024.
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