The U.S. movie industry
Film entertainment is big business in the United States and it was estimated that the film entertainment business generated 35.3 billion U.S. dollars in revenue in 2019. Among film studios, Disney has the highest box office market share in North America at over 30 percent and also pulls in more than double the box office revenue generated by Warner Bros. and Universal.Movie ticket sales and attendance
The United States is among the biggest film industries in the world in general but also in terms of tickets sold per year, ranking behind China and India. Movie ticket sales in the United States surpassed one billion in 2019 and watching films in theaters remains a popular pastime among Americans. Adults aged between 25 and 39 years old make up the majority of the U.S. movie theater audience. Over ten million adults in this age bracket tend to visit movie theaters frequently, around double the number of movie fans between the ages of 12 and 24 years. Movie theaters do however have growing competition from video streaming services, and many consumers now prefer to watch new movie releases at home.Unfortunately, the coronavirus outbreak will continue to severely and detrimentally impact the U.S. movie industry, affecting movie ticket sales and consumer confidence levels when visiting cinemas in general. In addition to that, box office revenue will suffer as the number of movie releases falls due to slow or postponed movie production schedules.
