Reasons to Be Optimistic About the Entertainment Business

The culture industry has gone through a lot of upheaval, but it’s not all doom and gloom.

From 彭博资讯 Five Reasons to Be Optimistic About the Entertainment

"Worldwide, the amount of time people spend staring at screens is at an all-time high, as are revenues for almost every sector of the entertainment business." Bloomberg

"Americans spent 313 billion minutes streaming video on TV in the first week of July, according to Nielsen. That means the average US adult was streaming almost three hours of TV daily. Even with competition from video games, YouTube and TikTok, the amount of time people spend watching premium video—defined as anything that’s not user-generated content—has increased in the past decade. The growth in time spent streaming has more than offset viewership declines for cable and satellite TV."

Netfli$$

"Netflix increased its profit through the first half of 2024 by 60% from a year earlier, to $4.47 billion from $2.79 billion. That puts it on pace to deliver nearly $10 billion in net income this year, which would be more than any entertainment company has ever made from its traditional TV networks."

FAST TV - Tubi

"Tubi now accounts for about 2% of all TV viewership in the US—a greater share, individually, than Max, Peacock and Paramount+, and it’s tied with Disney+."

"Things will get worse before they get better. Every sector of the media business faces challenges. Cable networks are shriveling, and streaming profits haven’t grown quickly enough to offset the losses. Layoffs continue. More companies will go bankrupt or sell cheap. But these challenges are cyclical, not a sign of permanent decay. They’re also hurting certain businesses more than entire industries."

https://www.bloomberg.com/news/features/2024-09-23/netflix-youtube-and-tubi-are-reasons-for-optimism-in-hollywood

#media #hollywood #optimism