A look at industry trends from the Motion Picture Association of America’s annual report

2022-09-13 0 By

Last week, the Motion Picture Association of America (MPAA) released its 60-page Global Cinema and Home Entertainment Market 2021 Report on its website,It provides a detailed introduction to the global cinema and home/mobile entertainment consumption market in the past year, providing an important reference for industry workers to predict future trends.Compared to previous reports, this year’s report has many innovations, such as increasing the proportion of cinemas that are closed each week to give the industry a more intuitive understanding of the impact of COVID-19 on the cinema industry.In broad terms, this year’s annual report gives industry insiders a picture of the global movie market emerging from the pandemic: Global entertainment spending in theaters and home/mobile devices, excluding pay TV, reached $99.7 billion in 2021, a 24% increase from 2020 and more than 2019 combined.With the addition of pay-TV revenue, the combined global entertainment market for theaters and home/mobile devices reached $328.2 billion, up 6% and essentially unchanged from 2019.The global film market reached $21.3 billion, an increase of more than 80 percent from $11.8 billion in 2020.The figure is still a bit lower than the $42.3 billion recorded in 2019, but people are confident that the cinema market is gradually recovering from the epidemic.In terms of the number of screens worldwide, the number of screens has been increasing in recent years, and the number of digital screens in 2021 has reached 208,000 globally, 12,000 more than in 2019.And fewer cinemas are closing because of the pandemic.From the perspective of film content supply, it is also recovering gradually.The United States, an important center of global filmmaking, produced 943 films in 2021, up 111 percent from 443 in 2020 and surpassing the 814 films produced in 2019.The number of films produced by MPAA member companies also surged among those films, to 202 in 2021, up from 173 in 2019.Spider-man: Homecoming, produced by SONY Entertainment, earned more than $1.8 billion at the global box office and became the world’s top grossing film in 2021.According to the report, of the global box office in 2021, the US/Canada box office revenue is 4.5 billion US dollars, up 105% year on year;Box office receipts outside the U.S. / Canada were $16.8 billion, up 76% from a year earlier.By region, the Asia-Pacific region’s box office hit $10.9 billion, up 89 percent from a year earlier.The biggest boost came from mainland China, which added $4.4 billion to $7.3 billion in 2021, overtaking the U.S. / Canada region for the second time to become the world’s no. 1 film market.The main reason is that cinemas on the mainland will be open for business for much of 2021.In third place was Japan with $1.5 billion, followed by the United Kingdom and France, which both made $800 million in 2021.According to the report, the global consumption of content home/mobile device entertainment products in digital and physical products reached $78.5 billion in 2021, up 14 percent year on year.Digital entertainment products are driving this growth.Compared with 2020, digital entertainment in the U.S. grew by 11% annually, while markets outside the U.S. grew by 24%.Global subscriptions to online video services like Netflix and Disney+ rose to 1.3 billion in 2021, up 14 percent from 2020, or 164 million more subscribers.In 2021, online video subscriptions became the second largest subscription revenue market, surpassing satellite TV, growing by $17.9 billion, or 26%.Cable TV maintained its position as the number one subscription market, but subscribers fell 1% year over year.Due to the epidemic and other factors, streaming media subscribers and businesses in the United States have seen great growth.In 2021, the number of STREAMING subscribers in the United States increased to 353.2 million, up 14 percent from 2020.The increase in subscribers is also driving the growth of streaming platforms such as Netflix.Of the top 10 streaming originals, nine are from Netflix, including hits like Lucifer, The Squid Game and Bridgetown.In 2021, 179 original films were released online, up more than 90 percent from 93 in 2017.These are excerpts from the annual report of the Motion Picture Association of America.On the whole, the global film and television industry is gradually recovering from the impact of the epidemic. At the same time, online entertainment has made significant progress. The development of 3D cinemas is slowing down, and audiences’ access to content is becoming more diversified.Please send your contributions to zongyiweekly@163.com. Disclaimer: This article is reproduced for the purpose of passing on more information.If the source is wrong or violated your legitimate rights and interests, please contact the author with proof of ownership, we will promptly correct, delete, thank you.Email address: newmedia@xxcb.cn