Streaming reaches 1,000 million viewers and sinks cinemas. The box office of cinemas has fallen more than 70% in a year. Only China registered better records while the US has had the rooms closed.
The coronavirus pandemic has boosted subscriptions to streaming platforms in such a way that in 2020 they exceeded 1 billion subscribers worldwide, while the box office of cinemas fell more than 70%.
The annual report of the Association of Cinematography (Motion Picture Association) confirms the change in consumer habits that the coronavirus has caused in all markets, with disastrous data for cinemas, which barely exceeded 12,000 million dollars (about 10,078 million euros) in revenue, well below the 42,000 million (35,273 million euros) of 2019.
The drop of 72% was generalized in most countries, although softer in China, where the public has flocked to the showrooms since the end of the year, with the improvement in the number of infections.
In the US , the most important market for the entertainment industry, the studios raised in 2020 only 2,000 million dollars (1,679 million euros) which correspond mainly to the period from January to March, since the rest of the months were closed, while that in 2019 the collection reached 11,000 million dollars (9,236 million euros). After a year closed, this month theaters have opened with limited capacity in Los Angeles and New York, the two most populous cities in the country.
“Despite the challenges that the pandemic has caused to the global economy, the television and streaming industry have once again risen to the occasion,” said Charles Rivkin, president and CEO of Motion Picture Association.
The small screen is the other side of the coin. Platforms that imitate the Netflix and HBO model have exceeded the barrier of 1 billion subscribers worldwide with the entry of new agents into the business such as Disney, Apple and the traditional television networks of each country. In the US, 55% of adults acknowledge that they consumed more television through digital platforms and 85% of young people explain that they watched series and movies on mobile devices.