At the start of 2020, consumers in the United States subscribed to an average of three paid streaming services, but after months of government-mandated lockdowns, the number has increased to five.
In 2020, Netflix gained 37 million subscribers worldwide, breaking its 2018 record of 28 million new additions. Currently, Netflix has 204 million active subscribers.
British exhibitor Cineworld, the parent company of Regal Cinemas in the US, said on Monday that it would shutter all 663 of its theaters in the US and the UK starting October 8th.
Day-and-date and other alternative film releasing models have been around for over a decade. Still, most major studios have avoided a strategy that skips the theater altogether, that is, until now.
Since the COVID lockdown began, nearly five million UK households have signed up for a streaming service. Netflix, Amazon, and Disney+ have been the primary beneficiaries of this boom.
With most of the world in mandatory lockdown, Netflix doubled its quarterly subscriber estimates from January through March by adding 16 million new subscribers.
As the coronavirus and subsequent global shutdown forces film and television production into an unprecedented standstill, streaming services are accelerating their takeover.