Mumbai: The pay TV subscription market excluding online video subscription hit $228.5 billion globally in 2021, according to Motion Pictures Association (MPA) Theme Report. This is a decline from 2020 when the pay TV subscription market was at $233.1 billion. Cable remained the largest subscription market in terms of revenue. Online video subscription became the second-largest subscription revenue market in 2021, surpassing satellite TV, as a result of a $17.9 billion or 26 per cent increase, the report stated.

The global total of online video subscriptions (1.3), such as Netflix or Disney+ increased by 14 per cent or 164.1 million when comparing 2021 to 2020, found the report. This was less than the number of online video subscriptions added in 2020 which was 232.1 million. The number of cable subscriptions decreased by one percent in 2021 to 526.5 million.

The global box office market was $21.3 billion in 2021 up by 81 per cent compared to 2020 due to theatre re-openings following the Covid-19 pandemic lockdowns but remained well below pre-pandemic levels. The international box office market, excluding the US and Canada, stood at $16.8 billion, increased by 76 per cent and accounted for 79 per cent of the global market.

The home/mobile entertainment market which includes content released digitally and on discs reached $78.5 billion globally, an increase of 14 per cent compared to 2020. The digital market was the driver of growth, according to the report.

When pay television subscription is added to the total combined global theatrical and home/mobile entertainment market, the value increases to $328.2 billion, a six percent increase compared to 2020, matching 2019’s record high.

Pay television subscription accounted for 70 percent of the total combined theatrical, home/mobile entertainment, and pay TV market, with the digital market (22 per cent), theatrical market (six per cent), and the physical market (two per cent) making up the rest.