This year the movie industry made $30 billion (1/3 in the U.S.) from box-office revenue.
But the total movie industry revenue was $87 billion. Where did the other $57 billion come from?
From sources that the studios at one time claimed would put them out of business: Pay-per view TV, cable and satellite channels, video rentals, DVD sales, online subscriptions and digital downloads.
The Movie Industry and Technology Progress
The music and movie business has been consistently wrong in its claims that new platforms and channels would be the end of its businesses. In each case, the new technology produced a new market far larger than the impact it had on the existing market.
It’s always cheaper to whinge than the change and if you have the ear of the State, reality never checks you. Until later.