• Key TakeawaysBrands supporting diverse creators and getting inside content as it crosses platforms and borders can become change-makers themselves as the stories they empower connect with consumers.
• Apple Music does not offer an ad-free version, and many believe that’s what’s holding them back since 2/3rds of the US already have music subscriptions.
• Theatrical releases alone haven’t topped their pre-pandemic revenue levels; the impact of streaming is leading the way to overall increases for the industry.
• Thanks to the boom in streaming, consumer spending in the global entertainment market is on the rise and is returning to pre-pandemic levels.
• Audiences are consuming new premium content as quickly as they can get it and ITV is the latest network attempting to fully monetize the streaming revolution.
Diversity on Screen Drives International Audiences, Starz Survey Says
Diversity on screen and behind the camera are key factors driving international audiences, according to a consumer survey conducted by Starz. The report revealed that more than 75% of international audiences want to see multicultural content, especially respondents from Mexico (88.5%), India (86.1%) and Colombia (84.9%). Also of importance is that nearly 65% of respondents said that “seeing people from different groups/backgrounds than their own in TV and media makes them feel more empathy toward others.” — READ MORE
Amazon Music Will Be the #2 Streaming Service by the End of 2022
Spotify is still, by far, the leader with over 89.2M paid subscribers but Amazon, with an estimated 52.6M subscribers by the end of 2022 will be surpassing Pandora who was previously the second largest with 49.1M. Pandora’s user base has been declining by ~6.7% every year since 2017, as Amazon has increased over 5.3% last year alone. Apple music is #4 on the list with an estimated user base of just 38.2M by the end of the year. — READ MORE
MPA Report Shows Impact Of Streaming With Growth In Subscriptions
The U.S. and Canadian box office reached $4.5 billion, up 105 percent from 2020, but still lower than pre-pandemic levels. But the combined theatrical and home and mobile market was $36.8 billion in 2021, surpassing the pre-Covid figure of $36.1 billion in 2019.In 2021, the number of online video subscriptions, or streaming, in the U.S. increased to 353.2 million, up 14% from 2020. The number of virtual pay TV subscriptions also increased to 14.5 million, up 18% from 2020. Overall, subscriptions to streaming services reached 1.3 billion worldwide. That’s up 14% from 2020, similar to the boost in the U.S.. — READ MORE
Global Entertainment Industry Revenue Rebounds From Pandemic
Consumer spending in the global entertainment market reached $99.7 billion in 2021, marking an important return to pre-pandemic levels, according to a new report released by the Motion Picture Association. In 2020, when the entertainment industry and world at large first began to grapple with COVID-19, consumer spending for theatrical and home entertainment sank to $80.8 billion, down 18% from the year prior. Now, consumption is closer to levels in 2019, when revenues hit a record $101 billion. — READ MORE
ITV Launches Streaming Service ITVX; Shows Will Air Months Before Being Given Linear Slot; Full Year Results Show Record Ad Spend
Launching later this year or next with both an AVOD and SVOD option, ITVX will kick off with dramas including Damian Lewis’s A Spy Among Friends, Helena Bonham Carter-starring Nolly and Lenny Henry’s The Little Birds, along with a new series using deep fake techniques to create hilarious celebrity set-ups, a feature film for ITV2 hit Plebs and a feature doc on the truth about Bill Cosby. In a sign that ITV is truly embracing the streaming revolution, multiple shows will air six to nine months before being given a linear window. — READ MORE
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