This image released by Disney shows characters Alberto, voiced by Jack Dylan Grazer, left, and Luca, voiced by Jacob Tremblay in a scene from the animated film “Luca.”
NEW YORK (AP) — Before the pandemic, the theatrical and digital markets for entertainment were roughly similar in size. Last year, however, digital revenue was more than three times that of global box office, according to a new report by the Motion Picture Association.
The MPA’s annual study of theatrical and home entertainment, published Monday, crystalized just how much streaming has come to dominate the media landscape. In 2021, the digital market accounted for 72% of the combined theatrical and home market. In 2019, digital accounted for $45.5 billion worldwide; last year it ballooned to $71.9 billion.
Streaming services have led the boom. In 2021, streaming subscriptions rose to 1.3 billion globally, a 14% increase from the year before. In the United States, subscriptions grew at a similar pace to 353.2 million. According to Nielsen, the Pixar film “Luca” on Disney+ was the most watched movie of 2021, with more than 10.5 billion minutes streamed.
The digital surge came at the same time the pandemic battered the theatrical business. While worldwide box office last year nearly doubled that of 2020, the first year of the pandemic, the $21.3 billion theatrical market, amid sporadic theater closures and widespread delays, was roughly half of what it had been before the arrival of COVID-19.
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