In 2020 global user subscriptions to online streaming services surpassed a record-high 1.1 billion benchmark, marking a 26% increase compared to the year before, Motion Picture Association revealed in its report on Thursday. In the United States, at least 308.6 million households subscribed to online video services, accounting for a 32% increase year-on-year.
The international market of home/mobile entertainment collected $68.8 billion in global revenue, a 23% gain compared to 2019. To that, the United States contributed $30 billion in revenue in 2020. The surge in online streaming demand helped offset financial drawbacks in theater box offices, due to the coronavirus pandemic.
“Despite the challenges to the global economy brought on by the COVID-19 pandemic, the film television, and streaming industry has once again risen to the occasion. […] We kept audiences connected and entertained wherever they were and whenever they desired. Theatrical and home entertainment remain two essential parts of this dynamic and iconic industry, and I am confident that movie theaters will experience a great comeback in the months ahead,” Charles Rivkin, the CEO of the Motion Picture Association stated.
