Streaming services have bolstered the home and theatrical entertainment industry as it recovers from pandemic shutdowns, hitting a record $99.7 billion for 2021, according to a Motion Picture Association report released Tuesday. The figure excludes pay TV but includes home/mobile entertainment like streaming services and disc releases, as well as theatrical releases.
The global total was up 24% compared with 2020, when many theaters and productions were shut down due to COVID. But even $99.7 billion beats out the total from 2019. There was a 14% increase in the home/mobile entertainment market and an 81% increase in the theatrical market.
Including pay TV, the combined total was $328 billion, which matches 2019’s record, as reported earlier Tuesday by Axios.
Home and mobile entertainment accounted for $78.5 billion alone in 2021, up 14% from 2020, thanks to the streaming boom. Subscriptions to streaming services across the globe reached 1.3 billion and surpassed the revenue generated by satellite TV.
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