Omdia: consumers will spend more on films in 2022

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Consumer spending on movies will hit a record $ 77 billion in 2022 as theaters return to near capacity and streaming providers take advantage of evolving windows of release to give the basics a boost. subscribers, according to an Omdia forecast.

As these spending levels reach an all-time high, the rate of growth is expected to slow in the future stages of the pandemic. “Success will be the right balance between box office, subscriber revenue and piracy,” wrote Charlotte Jones, senior media and entertainment analyst at Omdia, in a report titled “2022 Trends to Watch: Movies in the new Windows timeline ”.

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(Source: Omdia)

Subscription video, the report predicts, is poised to become the primary platform for consumer film spending in 2022. But even in 2022, subscription video won’t exceed 2019’s total spending for releases in 2019. rooms.

“That said, the value of theaters in the movie ecosystem was highlighted and theaters will account for 40% of total spend compared to 30% the year before, although it never quite returns as a platform. main, ”Jones explained.

Click here for a larger version of this image.  (Source: Omdia)
Click here for a larger version of this image.
(Source: Omdia)

Changing release windows will likely evolve further in 2022. These will continue to come into the picture a year after WarnerMedia released its full list of films simultaneously on HBO Max and in theaters and other media giants experienced with VoD models. (PVoD) premiums that shortened the length of time between theatrical debut and the home release window.

Opportunity strikes

Omdia, which is owned by the same parent company as Light Reading, expects film lineup to continue to transition to a “timely OTT debut,” with streaming services using Windows to help generate subscriber acquisitions . However, the day-to-day PVoD strategy, like the one WarnerMedia completed in 2021, “will become a niche strategy for key titles in 2022,” Jones said, noting that it exposes top content to piracy that could. do not justify the increase. additional income.

The PVoD market is expected to contract a bit as cinemas reassert their position in the value chain as more people are coming back. “As cinema is on the verge of a full recovery, PVOD revenues in 2022 will only reach a third of the record high of 2021,” Jones wrote.

Jones also expects Netflix to strengthen its theatrical strategy for key films in 2022 and hit a release rate of around 30 titles per year in theaters.

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– Jeff Baumgartner, Editor-in-Chief, Light Reading


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