The box office market in the movies and entertainment industry is poised to grow by $21.25 billion during 2021-2025, according to Technavio’s latest market research report. Providing an up-to-date analysis regarding the current market scenario, the latest trends and drivers and the overall market environment, the Technavio report estimates that the box office market will progress at a compound annual growth rate (CAGR) of 21.78%.
The increase in number of movie screens, the surging success of movies due to the increasing use of animation, and growing international collaboration in filmmaking will offer immense growth opportunities. In addition, the surging construction of green data centers, the growing use of free cooling techniques, and infrastructure innovations are some of the most prominent trends anticipated to influence the market’s growth positively during the next few years.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Amblin Partners, AMC Networks Inc., AT&T Inc., Comcast Corp., Lantern Entertainment, Sony Corp., MGM Resorts International, Lions Gate Entertainment Corp., ViacomCBS Inc., and Walt Disney Co. are some of the major market participants. To help businesses improve their market position and leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, Technavio’s research reports on the box office market are designed to provide entry support, customer profile and mergers & acquisitions as well as go-to-market strategy support.
Harvey Weinstein hit with new sex crime charge in New York
Harvey Weinstein pleaded not guilty Wednesday to a new sex crime charge in New York, as he awaits retrial in his landmark #MeToo case.
Details of the new allegations were not immediately available. He was charged with committing a criminal sex act.
The jailed ex-movie mogul has long maintained that any sexual activity was consensual.
Prosecutors revealed last week that Weinstein had been indicted on additional sex crime charges that weren't part of the case that led to his now-overturned 2020 conviction. But the new indictment was sealed until his arraignment.
Prosecutors have said that the grand jury heard evidence of up to three alleged assaults — two in hotels in the Tribeca neighborhood and one at a lower Manhattan residential building. The purported incidents took place from the mid-2000s to 2016, prosecutors said.
But it's not clear whether any of those allegations underlie the new indictment.
While bracing for the new charges, Weinstein also is awaiting retrial after New York state's highest court this spring overturned his 2020 conviction on rape and sexual assault charges involving two women. The high court, called the Court of Appeals, ordered a new trial, which is tentatively scheduled to begin Nov. 12.
The Court of Appeals ruled that the then-trial judge unfairly allowed testimony against him based on allegations that were not part of the case. That judge's term expired in 2022, and he is no longer on the bench.
Prosecutors have said they'll seek to fold the new charges into the retrial, but Weinstein's lawyers say it should be a separate case.
Weinstein, who also was convicted in 2022 in a Los Angeles rape case, remains behind bars while awaiting his New York retrial.
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