Box Office Market to grow at a CAGR of 21.78% by 2025, Rising Popularity of the Box Office is a Major Trend Fueling the Market - Technavio

NEW YORK, July 14, 2022 /PRNewswire/ -- The box office market size is expected to grow by USD 21.25 billion from 2020 to 2025, progressing at a CAGR of  21.78% as per the latest market report by Technavio. The rising popularity of the box office is the major trend driving the box office market growth. The global box office market is gaining more prominence than local or regional box office markets because films are targeted to cater to an international audience. Hollywood, one of the biggest film industries in the world, generated more than 70% of its revenue in 2019 from the international market. Moreover, the rise in importance of the global box office in encouraging local box offices to create meaningful movies, thereby attracting more investments. Hollywood films are casting actors from China, South Korea, and India besides featuring locations from these countries to ensure better box office collections.