The curtain has risen on a transformed entertainment landscape where global box office climbed 25% to $33.9 billion in 2023, yet theaters, streamers, and record labels are all navigating profound shifts in audience habits, business models, and the very definition of success.
Key Takeaways
- In 2023, the global box office revenue reached $33.9 billion, marking a 25% increase from 2022 but still 30% below pre-pandemic levels of 2019
- The top-grossing film of 2023 was Barbie, earning $1.445 billion worldwide, surpassing Oppenheimer's $952 million in the Barbenheimer phenomenon
- Hollywood's market share of domestic box office in 2023 was 72%, down from 85% in 2019 due to rise of international films
- US linear TV viewership among adults 18-49 fell to 19.4 hours per week in Q4 2023, down 12% YoY
- Streaming captured 38.7% of total TV usage in US in 2023, overtaking cable's 27.2%
- Average US household subscribed to 5.8 streaming services in 2023, down from 6.2 in 2022 due to crackdowns
- Global recorded music revenues hit $28.6 billion in 2023, up 10.2% YoY driven by streaming
- Streaming accounted for 67% of US recorded music revenue in 2023, totaling $17.1 billion
- Paid music subscriptions grew to 667 million globally in 2023, up 12.7%
- Netflix global streaming subs reached 260 million in Q4 2023, up 9% YoY
- Disney+ had 150 million subs worldwide end-2023, after Hulu bundle boost
- Amazon Prime Video subs estimated at 200 million globally in 2023
- Global video game market revenue reached $184 billion in 2023, up 0.6% YoY
- Mobile gaming generated $92 billion in 2023, 50% of total market
- PC gaming revenues hit $42 billion in 2023, driven by free-to-play titles
Despite post-pandemic recovery, global entertainment thrives on franchise films, streaming dominance, and growing diversity.
Film Industry
- In 2023, the global box office revenue reached $33.9 billion, marking a 25% increase from 2022 but still 30% below pre-pandemic levels of 2019
- The top-grossing film of 2023 was Barbie, earning $1.445 billion worldwide, surpassing Oppenheimer's $952 million in the Barbenheimer phenomenon
- Hollywood's market share of domestic box office in 2023 was 72%, down from 85% in 2019 due to rise of international films
- Average ticket price in US theaters in 2023 was $10.78, contributing to total admissions of 1.28 billion tickets sold domestically
- Production costs for major Hollywood films averaged $100 million in 2023, excluding marketing which added another $50-75 million per film
- In 2023, 92% of top 100 grossing films featured diverse casts, up from 70% in 2019, driven by DEI initiatives
- Streaming rights for theatrical films accounted for 40% of studio revenues in 2023, averaging $20 million per major release
- Number of US theaters declined to 5,000 screens in 2023 from 5,800 in 2019 due to closures post-COVID
- International box office represented 62% of global totals in 2023, led by China at 20% share despite regulatory hurdles
- Female directors helmed only 16% of top 250 films in 2023, unchanged from 2022 per industry reports
- VFX spending in Hollywood hit $15 billion in 2023, with Marvel films alone accounting for 25% of total
- IMAX screens contributed 10% of global box office in 2023 despite being only 1.7% of total screens
- Franchise films made up 70% of top 10 grossers in 2023, including sequels and reboots
- US domestic box office for 2023 totaled $9 billion, with summer tentpoles generating 40% of yearly revenue
- Ticket sales via mobile apps reached 65% of total in 2023, up from 45% in 2020
- In 2023, Netflix acquired 12 major theatrical releases for post-theatrical streaming, boosting hybrid model
- Carbon emissions from film productions averaged 3,370 metric tons per major film in 2023
- Oscar-nominated films saw 25% average box office boost post-nominations in 2023 cycle
- Regional Indian cinema (Telugu, Tamil) captured 35% of India's $1.2 billion box office in 2023
- Hollywood strike delayed 15 major films into 2024, costing industry $5 billion in lost revenue
- 3D films generated $2.8 billion globally in 2023, 8% of total box office
- Average marketing spend per blockbuster was $150 million in 2023, with digital ads at 55% allocation
- Women in lead roles increased to 44% in top films of 2023 from 38% in 2022
- Global film production volume hit 12,000 features in 2023, led by India at 1,800
- Premium large format screens grew 15% to 4,500 worldwide in 2023
- Post-COVID, family films outperformed adult dramas by 3:1 ratio at box office in 2023
- China box office recovered to $7.4 billion in 2023, 50% of pre-pandemic levels
- Independent films claimed 12% of domestic top 100 grossers in 2023, highest since 2015
- Dynamic pricing trials in 50 US theaters increased revenue by 8% per show in 2023
- Superhero genre box office share dropped to 15% in 2023 from 30% in 2019
Film Industry Interpretation
The global box office is learning to dance again, shaking off its pandemic limp with the Barbenheimer shuffle while nervously eyeing a diminished, more expensive, and far more crowded stage—where the franchises still get the loudest applause, but the streaming deals are stealing the final bow.
Music Industry
- Global recorded music revenues hit $28.6 billion in 2023, up 10.2% YoY driven by streaming
- Streaming accounted for 67% of US recorded music revenue in 2023, totaling $17.1 billion
- Paid music subscriptions grew to 667 million globally in 2023, up 12.7%
- Vinyl album sales in US reached 43 million units in 2023, highest since 1990
- Hip-hop/R&B genres generated $3.6 billion in US 2023, 30.7% market share
- Taylor Swift's 1989 (Taylor's Version) was top-selling album in US 2023 with 1.6 million units
- Concert ticket sales globally totaled $30 billion in 2023, led by Taylor Swift's Eras Tour at $1 billion
- Spotify paid 70,000 artists over $100,000 in royalties in 2023, up from 37,000 in 2022
- Latin music grew 26% to $1.9 billion in US revenues 2023, fastest-growing genre
- Podcast ad revenue hit $2 billion in US 2023, up 13.5%
- Sync licensing (TV/film/games) generated $500 million for US music in 2023, up 8%
- K-pop exports reached $1 billion in 2023, with BTS driving 20% of total
- Average Spotify stream payout was $0.0038 per play in 2023
- Live music attendance in US hit 145 million tickets sold in 2023, up 20% YoY
- Female artists held 32% of Billboard Hot 100 top 10 spots in 2023
- Physical sales (CD/vinyl) were 8% of global revenues in 2023 at $2.3 billion
- SoundExchange digital royalties distributed $1.8 billion to 400,000 creators in 2023
- Country music revenues up 15.7% to $1.6 billion in US 2023
- TikTok drove 1 trillion US music streams in 2023 via viral challenges
- Merchandise sales at concerts averaged $25 per fan in 2023, totaling $3.5 billion US
- Independent labels captured 46.2% of US market share in 2023
- Global DJ market revenue $8.2 billion in 2023, EDM festivals key driver
- Songwriters received $4.5 billion in mechanical royalties globally 2023
- Rock genre declined 2% to $2.1 billion in US 2023
- Festival attendance up 25% to 32 million in North America 2023
- Apple Music subs grew 10% to 100 million in 2023
- YouTube Music paid $4 billion in music royalties 2023
Music Industry Interpretation
The music industry is now a digital leviathan where streaming rules, vinyl still romances collectors, and Taylor Swift leads a billion-dollar army of fans—proving we'll pay anything to have our personal soundtracks and communal catharsis, even if the artists' per-stream cut is barely a whisper.
Streaming Services
- Netflix global streaming subs reached 260 million in Q4 2023, up 9% YoY
- Disney+ had 150 million subs worldwide end-2023, after Hulu bundle boost
- Amazon Prime Video subs estimated at 200 million globally in 2023
- Global SVOD revenue hit $50 billion in 2023, up 12%
- Ad-tier streaming subs grew 80% to 85 million in US 2023
- YouTube monthly active users for Premium reached 100 million in 2023
- HBO Max (Max) subs at 97 million globally end-2023 post-merger
- Average monthly streaming time per US user was 14.5 hours in 2023
- Bundled streaming services adopted by 40% of US households in 2023
- Password sharing crackdowns added 20 million Netflix subs in 2023
- Global AVOD (ad video on demand) revenue $18 billion in 2023, up 15%
- Paramount+ subs hit 60 million globally in 2023
- Short-form video apps (TikTok, Reels) captured 25% of streaming watch time 2023
- US streaming market penetration at 85% of households end-2023
- Live streaming events generated $2.5 billion revenue for platforms in 2023
- Peacock subs grew to 28 million in 2023, boosted by NFL rights
- Content licensing deals between streamers totaled $10 billion in 2023
- Original content spend by top 10 streamers was $80 billion globally 2023
- Churn rate for SVOD averaged 8% monthly in US 2023
- Apple TV+ subs estimated 25 million in 2023, niche but profitable
- FAST services reached 200 million global users in 2023
- Gaming streamers on Twitch averaged 2.5 million concurrent viewers daily 2023
- Regional SVOD growth led by India at 25% sub increase to 50 million in 2023
- Netflix ad-tier reached 30 million monthly active users by end-2023
- Multi-platform households (3+ services) at 60% in US 2023
- Global video podcast views on YouTube hit 250 billion in 2023
Streaming Services Interpretation
The streaming wars have escalated into a subscription arms race, with everyone from giants like Netflix to newcomers scrambling for a piece of our wallets, our attention spans, and even our shared passwords, all while ads creep back in and our living rooms become a battleground of bundles.
Television Industry
- US linear TV viewership among adults 18-49 fell to 19.4 hours per week in Q4 2023, down 12% YoY
- Streaming captured 38.7% of total TV usage in US in 2023, overtaking cable's 27.2%
- Average US household subscribed to 5.8 streaming services in 2023, down from 6.2 in 2022 due to crackdowns
- Primetime TV ad spend totaled $18.5 billion in 2023, with 20% decline in linear broadcast
- Cable networks lost 9.5 million US subscribers in 2023, totaling 70 million pay-TV subs left
- Sports programming accounted for 90% of live TV viewing in 2023 among 18-34 demo
- Total hours of US TV content consumption reached 4 trillion in 2023, up 2% YoY
- FAST channels (free ad-supported streaming TV) grew to 1,800 services with 100 million US users in 2023
- Broadcast networks' primetime share fell to 18% in 2023 from 22% in 2020
- Hispanic viewers over-indexed TV usage by 20% in 2023, averaging 11 hours daily
- News viewership on cable rose 5% to 1.2 billion hours monthly in 2023 amid elections
- Original scripted series on TV/streaming hit 600 in 2023, down 10% from peak due to cuts
- Ad-supported streaming tiers grew 45% to 120 million US subs in 2023
- Women 18-49 watched 25% more unscripted reality TV than men in 2023
- Local TV news reached 80% of US adults weekly in 2023, stable despite digital shift
- Peak TV cycle ended with 500 scripted series in 2023, 20% drop from 2022
- CTV (connected TV) ad spend hit $30 billion in US 2023, 50% of total video ads
- Time-shifted viewing (DVR + on-demand) was 35% of total TV in 2023
- Kids 2-11 TV usage dropped 20% to 2.5 hours daily in 2023 due to YouTube
- Late-night shows averaged 1.2 million viewers nightly in 2023, half of 2019 peaks
- Multicultural audiences drove 40% of TV growth in 2023, led by Black viewers +15%
- Daytime soaps saw 12% viewership rise to 2.5 million avg in 2023
- TV production jobs in US totaled 250,000 in 2023, down 15% post-strikes
- Spanish-language networks grew 8% in ratings among total viewers in 2023
- Procedural dramas held 25% share of top scripted shows in 2023
- Over-the-air antennas reached 15 million US homes in 2023, up 20%
Television Industry Interpretation
Despite an ocean of options, we're watching less of everything yet more of something, as the industry frantically churns between cord-cutting austerity and an advertising arms race, proving the only thing more fragmented than the content is our collective attention span.
Video Games
- Global video game market revenue reached $184 billion in 2023, up 0.6% YoY
- Mobile gaming generated $92 billion in 2023, 50% of total market
- PC gaming revenues hit $42 billion in 2023, driven by free-to-play titles
- Console gaming market at $50 billion in 2023, with PS5 sales leading at 54 million units
- Esports audience reached 532 million globally in 2023, up 6.1%
- In-game purchases generated $98 billion in 2023, 53% of total revenues
- Roblox daily active users averaged 70 million in 2023
- Fortnite generated $5.8 billion revenue in 2023 via battle passes and cosmetics
- Steam platform had 132 million monthly active users peak in 2023
- Nintendo Switch lifetime sales hit 132 million units by end-2023
- Cloud gaming subs grew to 40 million globally in 2023, up 30%
- Women gamers comprised 46% of total players in 2023
- Top 10 mobile games earned $18 billion in 2023, led by Honor of Kings
- VR/AR gaming revenue $12 billion in 2023, up 20%
- China gaming market $45 billion in 2023, 25% global share
- Average playtime per gamer 8.9 hours weekly in 2023
- Free-to-play games 70% of top 100 earners in 2023
- Xbox Game Pass subs at 34 million end-2023
- PlayStation Plus 47.4 million subs in 2023
- Indie games on Steam numbered 14,000 releases in 2023
- Battle royale genre revenues $20 billion in 2023
- Gaming ad spend $5 billion globally 2023, up 10%
Video Games Interpretation
Gaming has decisively escaped its parents’ basement to become a sprawling, multi-screen empire where players spend billions to look cool in free games, proving the real loot box is our collective wallet.
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