READ MORE: 2021 Theatrical and Home Entertainment Market Environment (THEME) Report (Motion Picture Association)
The global theatrical, home and mobile entertainment market is swiftly recovering around the world, according to a new report from the Motion Picture Association’s 2021 Theme Report. Globally revenues have surpassed pre-pandemic 2019 values to reach $99.7 billion (a stellar growth of 24% since 2020).
Factor in pay-TV, and the combined global theatrical and home entertainment market grew 6% from 2020 to $328.2 billion, matching 2019’s record high.
That’s in stark contrast to the doomsday scenarios of mid-2020 when there was no apparent way out of the pandemic, and particularly good news for the theatrical and exhibition business, which, if not at pre-pandemic levels, is not in danger of imminent demise.
It’s with reason then that Charles Rivkin Chairman, CEO of the Motion Picture Association, signals “a renewed sense of optimism” on the occasion of the MPA’s 100th anniversary.
“In short, 2021 marked the onset of our industry’s rapid rebound,” he declares. “The resounding success of Spider-Man: No Way Home and, more recently, The Batman, unmistakably show the value of big theatrical openings even during a pandemic.”
In its 2021 Theatrical and Home Entertainment Market Environment (THEME) Report, the MPA calculates that digital content streaming marketplace in 2021 accounted for 72% of the combined theatrical and home/mobile entertainment market, up from 46% in 2019.
In the US, the combined theatrical and home/mobile entertainment market in 2021 was $36.8 billion, a 14% increase compared to 2020, but notably overtaking the 2019 figure of $36.1 billion.
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Streaming also continued to boom globally, with subscriptions in 2020 surpassing the one billion mark, and growing 14% in 2021 to reach 1.3 billion.
The global box office market was $21.3 billion in 2021, up 81% compared to 2020, due to theater re-openings following the COVID-19 pandemic lockdowns. However, this remains well below pre-pandemic levels.
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Similarly, the US/Canada box office market was $4.5 billion in 2021, up 105% from 2020, although still down substantially compared to 2019.
Last year alone, more than 940 films entered production (more than double the 2020 figure), almost 560 original scripted series were released to US audiences (up 13% from 2020), and over 1,800 total original series were released, including children’s programming, daytime dramas, and unscripted shows.
“This kind of pace of creativity is testament to how successful our industry’s health and safety protocols have been during the COVID-19 era,” Rivkin added. “We have navigated a century’s worth of challenges, and yet we continue to re-emerge as vibrant and creative as ever.”