The global entertainment sector is set to "lose $160 billion of growth" as a result of the novel coronavirus pandemic over the next five years, research firm Ampere Analysis estimated in a report on Thursday.
Meanwhile, streaming will be "the big winner," Ampere concluded. Its latest forecasts suggest streaming will gain 12 percent of additional growth in revenue terms over the five year period. Lockdowns around the world have led to "a huge surge in streaming consumption and new subscriptions, benefiting subscription video-on demand, broadcaster video on-demand and other catch-up services," the firm said.
"Advertising is hit hardest both near term and overall, but drilling down into entertainment sectors shows that areas like theatrical are hit proportionally harder," explained Guy Bisson, research director as Ampere Analysis. "The interconnected nature of the entertainment value chain means that will have a number of effects in other areas of the value chain…some of which will not be fully felt for several years to come.
Never feel sorry for millionaires or billionaires
11% is not nearly as bad as I thought it would be.
...ouch... not good
This should help young girls stay in their home towns instead of seeking fame in Hollywood - which often leads to prostitution as most are unsuccessful in fulfilling their dreams.
Develop a One minute script based on the Corona Virus pandemic. Use the script format to handle this task. You are advised not to engage a lot of characters. Let's see what you got.
Lol. Wonderful morning news to wake up to. Thank you for this positive way to start the day bright and early.
BoycottHollywood
The virus just saved us from many many remakes!
Top on my list of concerns 👍🏻
Good.might be able to buy a Hollywood mansion on the cheep now.