Home and Theatrical Entertainment Industry Hit $99B in 2021
Streaming services help the entertainment industry recover from the pandemic in 2021.
- I've been covering technology and mobile for 12 years, first as a telecommunications reporter and assistant editor at ZDNet in Australia, then as CNET's West Coast head of breaking news, and now in the Thought Leadership team.
Global subscriptions to streaming services such as Disney Plus reached 1.3 billion in 2021.
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.
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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.
