The number of streaming service subscriptions passed 1 billion worldwide for the first time in 2020, highlighting massive growth in Hollywood’s direct-to-consumer business as the COVID-19 pandemic kept moviegoers glued to their sofas. Online video subscriptions soared 26% to 1.1 billion last year, according to a report by the Motion Picture Assn. China eclipsed the U.S. and Canada as the top box office market, with $3 billion in sales. Advertisement(MPA)Digital entertainment accounted for 76% of global home entertainment and box office last year, compared with 48% in 2019. Much of the increase was from growth in the number of movies streaming services such as Netflix produced and released.

Source: Los Angeles Times March 18, 2021 15:00 UTC