Global box office had record 2018, earning $96.8 bn
LOS ANGELES - AFP
The film industry has never been more successful than it was in 2018, when it earned $96.8 billion including over $40 billion in cinema ticket sales, according to figures published March 21 by the Motion Picture Association of America (MPAA).
Online video streaming services such as Amazon Prime and Netflix in particular saw impressive growth, with subscriptions surpassing those of cable TV for the first time.
The MPAA, whose membership includes Hollywood's six largest studios -- and most recently, Netflix -- said that more than half (52 percent) of Americans' screen time is spent on digital platforms.
"In today's dynamic marketplace, stories come to life for audiences in theaters, at home, and on the go," said MPAA CEO Charles Rivkin. "Our companies continue to deliver content where, when and how audiences want it and the numbers released today speak volumes."
Spending on home viewing alone rose 16 percent on the previous year, reaching $55.7 billion.
"Since 2014, digital spending has increased 170 percent globally," the report added.
In terms of subscriptions, sign-ups to online video services grew by 27 percent to 613.3 million, while cable subscriptions dropped 2 percent to 556 million.
But cable remains the biggest money-maker, pulling in $118 billion in 2018 according to the report.
And while cinema ticket sales role in the U.S. and Canada, up 7 percent to $11.9 billion, they dropped one percent in the rest of the world to $29.2 billion. However, that did not stop the opening of new cinemas, with the worldwide theater population rising 7 percent to nearly 190,000.