18 Mar Streaming Subscriptions Top One Billion: A New Normal, Or A Temporary Disruption? [Forbes]
(ABOVE) Lin Manuel Miranda and Leslie Odom Jr in ‘Hamilton’
By Scott Mendelson
March 18, 2021 | The big news out of this MPA Report is that A) there are 1.1 billion subscriptions accounted for worldwide for one or more streaming services, and B) consumers spent $80 billion on streaming content in 2020. In terms of pure theatrical, consumers spent $12 billion at movie theaters in 2020, despite the industry essentially shutting down (first in China and then in the rest of the world) for much of the year.
Domestic box office was $2.2 billion, down 81% from last year’s record $11.4 billion domestic earnings while overseas earnings were $9.8 billion, down 81% from last year’s $30 billion haul. Meanwhile, streaming subscriptions jumped 26% from last year, and revenue ($68.8 billion) jumped 23% from 2019. What does this all mean?
Read more on Forbes.