Editor’s take: The movie business has principally recovered from the pandemic-induced downturn, popping out on the opposite aspect with a little bit of a special look. As pandemic restrictions ease (barring one other variant outbreak), it’ll be attention-grabbing to see if theaters get well additional in 2022 or if customers desire to look at from the consolation of their residence through digital supply.
The Motion Picture Association in its 2021 Theatrical and Home Entertainment Market Environment (THEME) report stated the mixed international theatrical and residential / cellular leisure market generated $99.7 billion in 2021. That’s up from simply $80.5 billion in 2020, and eclipses the $98.1 billion in income from 2019 / pre-pandemic ranges.
It’s the breakdown of income, nevertheless, that’s particularly attention-grabbing.
Last yr, a full 72 % of the aforementioned $99.7 billion in income – or $71.9 billion – was generated by digital supply. Before the pandemic in 2019, digital markets generated simply $45.5 billion.
Theatrical income dipped accordingly, from $42.3 billion in 2019 to $21.3 billion final yr. In 2020 throughout the top of the pandemic, the theatrical market turned out simply $11.8 billion in income as many theaters have been compelled to quickly shut over native Covid-19 tips.
The shift to digital content material consumption is in step with comparable traits we’ve seen because it pertains to shopper spending in subscription-based apps over the past couple of years and is essentially a byproduct of the pandemic. Faced with shutdowns and stay-at-home orders, content material creators and distributors needed to discover new methods to achieve audiences, and digital supply was the reply.
Image credit score cottonbro