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Illustration: Sarah Grillo/Axios

The global entertainment market, which includes box office and in-home entertainment (streaming) revenues, topped $100 billion last year — a first for the industry, according to a new report released Tuesday by the Motion Picture Association of America.

Why it matters: It's looking unlikely that 2019's bombshell success will carry over into 2020, given the unprecedented stress that Hollywood is facing due to the global coronavirus outbreak.

By the numbers: The U.S./Canada box office was $11.4 billion in 2019. The international box office also surpassed $30 billion for the first time.

  • Global home/mobile entertainment reached $58.8 billion. 
  • Eight markets had box office totals of $1 billion or more. 
  • More than three-quarters of the population, or 268 million people, went to the cinema at least once in 2019, which is slightly up from 2018 levels.

Yes, but: The film industry is on pace to lose billions of dollars due to the deadly coronavirus outbreak around the world, according to analysts.

  • While the out-of-home entertainment industry is expected to suffer — movies, theme parks, concerts, cruises, etc., — in-home entertainment is expected to fair better with more people staying home, likely glued to their televisions.

Go deeper: Movie industry braces for major hit due to coronavirus

Go deeper

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.

The post-Trump GOP, gutted

McConnell (L), McCarthy (R) and Trump. Photo: Erin Schaff-Pool/Getty Images

Republicans will emerge from the Trump era gutted financially, institutionally and structurally.

The big picture: The losses are stark and substantial.