The global entertainment market is expanding on multiple fronts, according to new theatrical and home entertainment data released by the Motion Picture Association of America (MPAA). Consumer spending for the combined theatrical and home entertainment markets reached $88.4 billion (€72bn) worldwide. The global box office reached a new record high of $40.6 billion in 2017 – up five per cent from the previous year. Home entertainment consumer spending also increased globally in 2017 to hit $47.8 billion, up 11 per cent over 2016.
The 2017 Theatrical and Home Entertainment Market Environment report, or THEME, includes new information on the home entertainment market in addition to global box office figures and a moviegoer demographic survey. The expanded report reflects the continued evolution of global entertainment.
“With more stories and more storytelling mediums than ever, our industry continues to adapt to an ever-changing world,” commented MPAA Chairman and CEO Charles Rivkin. “The global entertainment market is expanding on multiple fronts, constantly innovating to deliver an unparalleled experience to audiences worldwide. In 2017, not only did the global box office hit yet another record high, the number of subscriptions to online video services around the world jumped 33 per cent to reach 446.8 million.”
“With the global box office continuing to grow and movies drawing younger, more diverse audiences, we see a bright future for theatrical entertainment,” said John Fithian, President and CEO of the National Association of Theatre Owners (NATO). “We are relentlessly innovating, investing in top-notch cinema infrastructure and advanced technology, to give audiences the very best movie experience.”
The global box office’s record high was driven by a seven per cent increase in international markets ($29.5 billion), in large part resulting from growth in China. Japan, the United Kingdom, India, and South Korea rounded out the top five international markets after China. Cinema screens increased eight per cent globally in 2017, reaching just over 170,000, led by continued double digit growth in the Asia Pacific region (+16 per cent).
In the United States and Canada, while the domestic box office did not quite reach the 2017 record of $11.4 billion, its robust performance matched 2015’s previous high of $11.1 billion. The domestic box office, with 263 million moviegoers and the largest box office market globally, is more mature in comparison to many other markets around the world. Other important domestic findings include:
In 2017, global home entertainment consumer spending increased by 11 per cent to $47.8 billion, and in the United States, the home entertainment market increased five per cent over 2016 to $20.5 billion. Other data points suggest there is no slowing down: