Box office will fall to $5.5 billion this year from $11.4 billion in 2019, the analysts project
Analysts at MoffettNathanson are projecting that overall video consumer spending in the U.S. will, for the first time ever, decline in 2020.
. They expect the box office to rise to $9.7 billion in 2021 before steady declines to $8.5 billion in 2024. "I can't imagine another time when spending on video has fallen this dramatically," MoffettNathanson's Michael Nathanson tells. "Usually in recessions, spending goes up as it is cheaper to see a movie or watch cable than go on vacation."
Over the past year, however, "we have been repeatedly asked about the future direction of this spending" given the explosion in streaming options and the acceleration in cord-cutting, the analysts acknowledged.
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