Online movie theaters’ income from the sale and rental of content has fallen to an all-time low. According to the results of the first half of 2023, it represented 2% of total service revenue. Subscriptions are the most popular: they represent 90% of revenue.
The share of sales and rentals of movies and television series in the total revenue of online cinemas in the first half of 2023 fell to a record low of 2%. This was reported by Vedomosti with reference to data from TMT Consulting.
Compared to the same period in 2022, the figure decreased almost five times: from 9% of revenue. In 2018, this revenue item represented 38% of online cinemas’ revenue.
At the same time, service revenue from subscriptions is increasing. In the first half of 2023, subscriptions represented 90% of revenue, while in 2022 this proportion was 83%. Experts point out that subscriptions are the main driver of revenue growth for online cinemas.
In the first half of 2023, 14 million households had at least one online movie subscription. In the first half of 2022 there were 11 million homes of this type. The average number of subscriptions per household is currently 3.2.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
