Todd Spangler NY Digital EditorMedia and entertainment revenue globally dropped 3.8% in 2020 as the coronavirus pandemic led to an overall $81 billion drop, according to PwC’s “Global Entertainment & Media Outlook 2021-2025″ report.It’s no surprise that COVID ravaged certain sectors of the business.
Movie theaters saw a 71% decline in box-office revenue and live music plunged 74% last year.“It’s the first time we saw such a stark decline in the market,” CJ Bangah, principal at PwC U.S., who serves on the report’s editorial board.
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