Many movies that were affected by covid-19 are now back on track and getting released into theaters again. The entertainment industry is getting back on track! During COVID-19, most if not all movies were put on hold or when permitted, were extremely cautious while filming. Movies that were released during COVID-19 were all released online and not in theaters. Because of this, movie theater chains that used to be booming with business were empty and bare.
While others suffered greatly, online streaming services flourished with all the people quarantined and stuck at home. Though this trend of streaming service viewers was previously going up anyway, covid-19 sped up the process. Revenue climbed to $61.8 billion with an increase of 31%. While that was flourishing, physical entertainment like DVDs, blue-ray, and rentals dramatically declined. In 2020 digital entertainment only totaled only $7 billion, less than half of the $14.9 billion in 2016.
Streaming services gained many watchers and in 2020 totaled 308.6 million subscribers, a year-over-year increase of 32%. Because of the online subscribers, revenue grew 35% totaling $24.7 billion. TV programs that broadcasted dropped because of production delays. It dropped from the record high of 532 programs to 493. Production dates of release were moved to 2021-2022 and the slow down of shows being released had caused Netflix to drop in production of original content by 12%. While those declined programs like unscripted shows, children’s shows, and day-time dramas, have not experienced that large of a decline. The number of releases has stayed steady over the last five or so years.
Screen time, in general, went up from 13% in 2019 to 17% in 2020. 14% was accounted for by time spent on mobile video. Movies, like TV, declined dramatically with release dates going into 2021 and beyond. There were only 338 theatrically released movies, a 66% decline from 987 in 2019. Also in 2020 the estimated number of movies to start prediction declined 45%.
Because physical movie viewing was canceled, movie theaters and studios scrambled to find a way to increase revenue by getting video entertainment into homes instead of theaters. They released the movies online with or instead of theater releases. The box office dropped in ticket sales dramatically. From January to March, the box office was $1.8 billion. This accounted for 80% of the year due to the very notable drop that happened in March.
Godzilla vs. Kong was the beginning of getting back on track. It grossed over $69.5 million in the first two weeks and then $350 million globally. Finally, movies and TV shows began to get back on track but with extra caution. While COVID is still fluctuating, we start to get a steady stream of movies once again. Cast, directors, and others that work in the film have had to use caution in their workplace, including wearing masks, frequent COVID-19 testing, and keeping everything as clean as possible.
COVID-19 has changed so much in the film industry. Not only has it changed the industry, but it has also changed the people that work in it and the people that don’t. It’s easy to say that the experiences and challenges that it has gone, through will change it forever. This also showed that even though there are many challenges, people were able to persevere. It was a slow process but now we are getting back on track, and people can enjoy the movie theater experience again. It’s been wild but now it is finally coming to an end and a new beginning.
