But cable remains the highest revenue video platform despite its decline in subscriptions.
Video streaming subscriber numbers worldwide rose about 27% to overtake traditional cable customers for the first time in 2018, according to The Motion Picture Association of America. Subscriptions for online video services hit $613 million, while cable dropped 2% to 556 million.
Despite the reduced numbers cable’s revenue increased by $6.2 billion to $188 billion, with satellite revenues following close behind. Revenue from streaming websites like Netflix, Hulu and amazon prime was just under $40 billion.
The combined theatrical and home entertainment market in the US and Canada has grown by 25% in the last five years with about three-quarters of the population going to the cinema at least once in 2018.
[2 minute read]