The US entertainment industry will see the considerable growth of 9.8% during the forecast period. Although amusement parks, sports, theatrical and film productions, sports, and live events and trade shows are facing challenges due to the outbreak of COVID-19. Video streaming companies are coming up with new solutions to offer during the complete lockdown. For instance, in March 2020, Netflix launched a Google Chrome browser extension named Netflix Party which allows the users to access the video in groups and watch them together. Netflix Party synchronizes video playback and adds group chat to your favorite Netflix shows. The company’s stocks are continuously increasing since March 16, 2020, and have shown a high record on April 6, 2020, as the investors are betting on the increasing demand for video streaming content during the lockdown.
Browse the full report description of "US Entertainment Market Size, Share & Trends Analysis Report by Type (Online Video Streaming, Amusement Parks, Theatrical & Film Productions, Sports, and Live Events and Trade Shows), Impact of COVID-19 on US Entertainment Industry, and Forecast 2019-2025" at https://www.omrglobal.com/industry-reports/us-entertainment-market
Further, Netflix has generated around $5.7 billion in revenue in the first quarter (Jan-March 2020) compared to around $4.5 billion in the first quarter (January-March 2019) revenue in 2017. Further, the company is engaged in expanding its business by adopting several strategies such as acquisition, partnership, and product launch. For instance, in April 2020, Netflix screened documentaries on the Netflix US YouTube Channel for teachers and students during the lockdown. These documentaries include Abstract, Babies, 13th, Chasing Choral, Explained, Our Planet, Knock Down the House, Zion, and The White Helmets. Other video streaming companies such as Prime Video, YouTube TV, FuboTV, and Disney+ are giving tough competition to Netflix.
Market Coverage
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Report Elements |
Details |
|
Study Period |
2018-2025 |
|
Base year |
2018 |
|
Forecast period |
2019-2025 |
|
Segments Covered |
By Type |
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Key Companies Profiled |
Netflix Inc.Amazon Web
Services, Inc., Paramount Pictures, Walt Disney Co., and Six Flags
America. |
Key questions addressed by the report
o Recovery Timeline
o Deviation from pre-COVID
o Most affected segment
o Recommendations
US Entertainment Market – Segmentation
By Type
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