Global Box Office Market 2016-2020
About the Box Office Market
In 2010-2015, the international box office revenue increased by 33%. The main reason for the growing success of the film industry is the increasing synchronization between the film makers and distributors regarding the screening of a movie in multiplexes. The movie screens also develop in quality as the 3D effects used in the films improves. Despite technological advances, high-end home theaters and television units are unable to give a tough competition to the box office market as the moviegoers are more inclined toward the overall experience of the movie that includes visual and 3D effects and screening in IMAX theaters.
Technavio’s analysts forecast the global box office market to grow at a CAGR of 6.95% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global box office market for 2016-2020. For the purpose of calculating the market size, the report considers the revenue generated from the various business models and types of box office market by different categories. It also provides a list of key leading countries in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Box Office Market 2016-2020
Technavio recognizes the following companies as the key players in the global box office market: 20th Century Fox, Paramount Pictures, Sony Pictures, Universal Studios, Walt Disney Company, and Warner Bros.
Other Prominent Vendors in the market are: CBS Films, Dreamworks SKG, Focus Features, IFC Films, Lionsgate, MGM, Miramax, and Weinstein Co.
Commenting on the report, an analyst from Technavio’s team said: “A trend boosting market growth is technological advances. The film industry is primarily driven by innovation, and there is a continuous demand for new and innovative content and high-quality overall film viewing experience. As a result of this incessant demand, the global box office market is adopting various technological advancements. Vendors are striving to offer the viewers better movie experience in terms of video and audio quality. For example, 4D is a popular technology used to screen international films in the South Korean box office market.”
According to the report, a key growth driver is the decentralization of expertise and skilled work force. Globalization has brought about better business connection between economies and international population, as well as decentralization of expertise across industries, including the film industry and box office market. For instance, in the early 2000s, Hollywood was confined to the city of Los Angeles. However, as of 2016, a lot of other places in the country are developing their independent film industry. Factors like technological advancements, better communication facilities, knowledge sharing and expertise exchange, which is also shrinking the gaps between small and large scale film industries, are driving the growth of the global box office market.
Further, the report states that piracy is one of the major challenges to the box office and film industry. Pirated versions of most of the movies are available either on the Internet or in the form of DVDs at a nominal price. Piracy drastically affects the revenue of the box office and reduces the profit margin for distributors. For instance, the audio-visual industries in the UK lose $720 million every year to piracy, copyright thefts, and infringement. Technavio estimates that more than 30% of the UK's population is involved in piracy either by buying counterfeit or pirated DVDs or by streaming and downloading pirated content via the Internet.
20th Century Fox, Paramount Pictures, Sony Pictures, Universal Studios, Walt Disney Company, Warner Bros, CBS Films, Dreamworks SKG, Focus Features, IFC Films, Lionsgate, MGM, Miramax, and Weinstein Co.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook