Coronavirus pushes global streaming subscriptions to one billion in 2020, as audiences stay at home and studios debut major movies online

With cinemas closed, and lockdowns and work-from-home initiatives in place, streaming services have benefited hugely

Disney, Apple TV+ and others have also invested heavily in their own services, premiering new content online

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As cinemas stayed closed during the coronavirus pandemic, streaming subscriptions hit a billion. Photo: Getty Images

Published: 10:15pm, 22 Mar 2021Updated: 12:30am, 23 Mar 2021

The number of streaming service subscriptions passed a billion worldwide for the first time in 2020, highlighting massive growth in Hollywood’s direct-to-consumer business as the Covid-19 pandemic kept film-goers glued to their sofas.

Online video subscriptions soared 26 per cent to 1.1 billion last year, according to a report by the Motion Picture Association on the theatrical and home entertainment market. The Washington-based lobbying group represents the legacy Hollywood studios and Netflix.

The report, released on Thursday, reflects the effect that Covid-19 has had on the entertainment industry. It’s also the result of legacy media companies investing heavily in their own streaming services – such as Disney+, Apple TV+ and HBO Max – and Netflix and Amazon bringing more original movies and shows to their apps.

Disney funneled movies such as Hamilton and Soul to its streaming service, while Warner Bros debuted Wonder Woman 1984 simultaneously in cinemas and on HBO Max. Sony sold the Tom Hanks picture Greyhound to Apple TV+, and Amazon acquired Borat Subsequent Moviefilm for Prime Video. Disney recently reported 100 million subscribers for Disney+. Netflix has more than 200 million.

Borat Subsequent Moviefilm was released on Amazon. Photo: Amazon

Meanwhile, global box office sales dropped 72 per cent to just US$12 billion as multiplexes remained largely closed for the bulk of the year.

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