The entertainment industry has been progressing towards a full post-pandemic recovery as studios, streamers, and networks grapple with evolving consumer preferences and the fallout of both the WGA and SAG-AFTRA strikes. After many box office flops this year and the sustained battle for streamer profitability, entertainment brands are strategizing ways to drive ROI, retain customers, and grow market share for consumer time, dollars, & consumption amongst an ever-growing, dynamic competitive set.
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Streaming platforms continue to shape how we consume media, as Linear TV viewing fell below 50% of total share of usage among U.S. viewers this year.
The 2023 box office is projected to continue recovering with the biggest film slate since 2019 and consumers planning to see more theatrical films
than in 2022
Streamers will spend $8.5B on sports rights in 2023, up 64% from 2022
Source:
TechCrunch: First Statistic
CNBC: Second Statistic
The Streamable: Third Statistic
