Streaming services have boosted the home and theater entertainment industry while it recovers, which hit a record $99.7 billion for 2021, according to a Motion Picture Association (MPA) report released Tuesday. The figure excludes pay TV but includes home/mobile entertainment such as streaming services and disc releases, as well as theatrical releases.
The global total increased by 24% compared to 2020 when many theaters and productions were closed due to COVID. But even $99.7 billion beats the 2019 total. There was 14% growth in the home/mobile entertainment market and 81% growth in the cinema market.
Including pay-TV, the total was $328 billion, matching the record set in 2019, Axios reported earlier on Tuesday.
Home and mobile entertainment accounted for $78.5 billion in 2021 alone, up 14 percent from 2020, thanks to the streaming boom. Subscriptions to streaming services around the world reached 1.3 billion, surpassing satellite TV revenue.
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