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The North American box office decreased by 2% last year to $11.1 billion, dragging down total global box office dollar growth, according to the Motion Picture Association of America's latest 2017 Theatrical and Home Entertainment Market Environment report.

Expand chart
Reproduced from MPAA Theme Report, 2017; Chart: Axios Visuals

Why it matters: The rise of streaming in the U.S. is eating at box revenue growth. In the U.S., home entertainment spending for content released digitally was up 20% from 2016 to 2017. U.S. physical home entertainment spending — on Blu Ray and DVD — continues to decline.

  • While global box office revenues grew by 5% year-over-year to $40 billion, those revenues were driven by international revenue growth, which increased 2% year-over-year to $29.5 billion.
  • A lot of that digital growth comes from subscription video on-demand services (SVOD), like Netflix. SVOD content spending was up 28% since 2016. The number of subscriptions to online video services in the U.S. increased by 21%, or $151 million, while subscriptions to every other type of Pay TV service (Cable, satellite, IPTV) declined.

Go deeper

"Atmospheric river" to whiplash Northern California from drought to flood

A map depicting 24-hour preciptation forecast (inches) ending Monday at 5a.m. local time. Photo: NOAA

A series of powerful "atmospheric river" storms are set dump historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest from this weekend, forecasters warn.

Why it matters: A strong atmospheric river, packing large amounts of moisture, is predicted to whiplash Northern California from drought to flood.

10,000 trees near giant sequoia groves to be removed after fires

A firefighter looks up at a giant sequoia tree after fire burned through the Sequoia National Forest near California Hot Springs, California, on Sept. 23. Photo: Patrick T. Fallon/AFP via Getty Images

"Upwards of" 10,000 trees near giant sequoia groves have been "weakened by drought, disease, age, and/or fire" and must be removed in the wake of California's wildfires, the Sequoia and Kings Canyon National Parks announced.

Why it matters: The damage to these trees, considered "national treasures," and work to remove them means a nearby key highway must remain closed to visitors as they have "the potential to strike people, cars, other structures, or create barriers to emergency response services," per a statement from the national parks.

Obama stumps for McAuliffe, urges Virginians not "to go back to the chaos"

Photo: Win McNamee/Getty Images

Former President Barack Obama framed a Nov. 2 gubernatorial race as a bellwether for the Democratic Party and the country, telling a crowd at a campaign event for Terry McAuliffe on Saturday that "I believe you, right here in Virginia, are going to show the rest of the country and the world that we're not going to indulge in our worst instincts."

Why it matters: With just over a week to go before Election Day in the Commonwealth, McAuliffe is bringing out the big guns. The 44th president appeared on the campus of Virginia Commonwealth University to urge supporters to get to the polls.