HOLLYWOOD—The Hollywood studios-backed Digital Entertainment Group (DEG) trade group that tracks consumer spending on content is reporting that spending on subscription streaming services grew by a hefty 17.3% in Q3 2022 compared to a year earlier.
Despite economic headwinds, recession worries and inflationary pressures that are crimping consumer budgets, DEG also reported that total U.S. home entertainment spending grew by 13.1% to $9.1 billion in Q3, 2022, led by $8.6 billion in spending on subscription streaming services.
Year to date spending on SVOD services for the first three quarters of the year, were also up by 17.52% to $22.28 billion.
Total home entertainment spending was up 12.2% in the first three quarters to nearly $27 billion.
The group also reported that box office spending spiked as the industry recovered from COVID-19 to $2.79 billion in Q3, up 85.45% from a year earlier, and that box office spending for the first three quarters was up 195.7% to $5.98 billion.
The full data set is available here.
