The global entertainment market has surpassed $100 billion in revenues for the first time in history, according to the Motion Picture Association (MPA).
Combined earnings for cinema and home entertainment reached $101 billion in 2019, with worldwide box office receipts accounting for $42.5 billion.
The MPA found that the overall surge was mostly down to streaming, as digital home and mobile entertainment brought in $58.8 billion globally, up 14 per cent from last year.
“The film, television, and streaming industry continues to transform at breakneck pace, and this report shows that audiences are the big winners,” said MPA chairman and CEO Charles Rivkin. “Most importantly, our industry continues to innovate and deliver great storytelling for movie and TV fans — where, when, and how they want it.”
Variety added, “Contrary to popular belief, streaming isn’t cannibalising younger audiences’ appetite for going to the movies,” citing highest cinema attendance among 12-17 year olds (4.9 tickets sold per person) and 18-24s (4.7 tickets sold per person).
The number of subscriptions to online video services also increased to 863.9 million globally, and more than 75 per cent of adults watched films and TV shows via subscription services last year.