Global streaming subscriptions surpassed one billion for the first time in 2020.
According to a new report from the Motion Picture Association, subscriptions to online video services in 2020 reached 1.1 billion globally, a 26% year-over-year growth. The US alone amassed 308.6 million subscribers, thanks to the introduction of new streamers such as HBO Max, Peacock and Disney+.
The overall global home/mobile entertainment market reached US$68.8 billion, a 23% increase over 2019. This total is dominated by the US, which saw its revenues increase by 21% to US$30 billion.
The report noted that while there was a drastic decrease in global box office sales, the digital entertainment market’s surge helped to offset that to reach US$80.8 billion, down 18% from 2019. The release of premium titles initially intended for cinematic release, like Disney’s Mulan significantly aided this.
Charles Rivkin, Chairman and CEO of the Motion Picture Association, said: “Despite the challenges to the global economy brought on by the COVID-19 pandemic, the film television, and streaming industry has once again risen to the occasion. Streaming experienced another huge boom, with new entrants into the market and more than one billion subscriptions worldwide for the first time ever. We kept audiences connected and entertained wherever they were and whenever they desired. Theatrical and home entertainment remain two essential parts of this dynamic and iconic industry, and I am confident that movie theaters will experience a great comeback in the months ahead.”
The report also noted that the top three box office markets outside the US and Canada were China, Japan and France, with totals of US$3 billion, US$1.3 billion and US$500 million respectively.
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