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Newstrail
Newstrail
The box office revenue of the filmmaking industry plummeted by 82% between 2019 and 2020, but the demand for streaming services grew, proving the entertainment industry’s popularity. Hollywood remains the most significant film industry globally, but China’s box office numbers overtook it by 33% in 2020. The expected CAGR of 8.3% and 21% between 2021 and 2027 for the film industry and streaming services, respectively, indicates that filming is back on track. Industry employment figures recently released by the U.S. Bureau of Labor Statistics are a good indicator of the expected upswing. South A…
