The PricewaterhouseCoopers study found the revenue from downloading and streaming is expected to jump 13% to $9.5 billion in 2015 as sales of physical DVDs lower to $7.8 billion. The firm added that streaming will become a $12 billion industry in 2017, rising above the money spent going to movie theaters.
The report comes as streaming service such as Netflix have been booming in recent years. In April, the streaming service saw its revenue soar 24% for the last quarter, while the number of subscribers rose to over 60 million around the world. The company’s stocks have also been rising, helping it beat out competitors like CBS and Viacom, Fortune wrote in April.
- TIME's 100 Most Influential People of 2022
- Employers Take Note: Young Workers Are Seeking Jobs with a Higher Purpose
- Signs Are Pointing to a Slowdown in the Housing Market—At Last
- Welcome to the Era of Unapologetic Bad Taste
- As the Virus Evolves, COVID-19 Reinfections Are Going to Keep Happening
- A New York Mosque Becomes a Refuge for Afghan Teens Who Fled Without Their Families
- High Gas Prices are Oil Companies' Fault says Ro Khanna, and Democrats Should Go After Them
- Two Million Cases: COVID-19 May Finally Force North Korea to Open Up