Box Office Won't Return to 2019 Normal Until 2024, Say Analysts
According to a new report, after months of movie theater closures due to Covid, the global box office will face a slow, asymmetrical recovery that will likely take years. The international entertainment business was one of the most hard-hit industries throughout the pandemic. Only 34% of media business CEOs felt confident in their companies' potential growth across the following year. With no choice but to close their doors, movie theaters weren't afforded the luxuries of streaming when mandatory Covid lockdowns were put in place. Streaming, on the other hand, maintained steady growth throughout the pandemic. 2020 was a peak year for services like Disney+, Apple TV, and HBO Max, with the streaming market experiencing a 37% growth.More...
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