Movie streaming, downloads to overtake box office in 2017: report

Movie streaming, downloads to overtake box office in 2017: report

PanARMENIAN.Net - Movie streaming and downloads will reportedly overtake the box office as the biggest contributor to total film revenue in 2017, Digital Spy said.

Revenue from on-demand streaming services like Netflix and Amazon Instant Video will surpass DVD and Blu-ray sales in 2016, before outstripping cinema the following year.

According to a study by PricewaterhouseCoopers (PwC), revenue from streaming services will reach $17bn by 2018, which is double the $8.5bn the sector is currently generating.

However, PwC's Cindy McKenzie added that the company expect a 16% increase in box office ticket sales over the next five years, explaining: "People still want to go to the movies, especially the big tent-pole films."

She added that the cheap and efficient distribution of digital media is a financial bonus: "The amount of money that you're making per transaction may not be the same, but it is cheaper to distribute things digitally."

Meanwhile, Netflix has reported a 24% increase in revenue in the first quarter of 2014.

 Top stories
If the companies had lost the case and damages were awarded, they could have tripled to some $9bn under U.S. antitrust laws.
11 EU interior ministers called on major Internet providers to swiftly report and remove material that could “incite hatred and terror.”
"We've checked and there's nothing wrong on our end," a Singapore-based spokesman for Google said in an email.
The app uses photos, facial recognition tech and games to help kids read emotions and communicate with other people.
Partner news