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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.

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Mike Allen, author of AM
16 mins ago - Economy & Business

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Illustration: Aïda Amer/Axios

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Why it matters: Despite being propped up by an extraordinary amount of fiscal stimulus and support from central banks, the state of the global economy remains fragile.

Scoop: Gina Haspel threatened to resign over plan to install Kash Patel as CIA deputy

CIA Director Gina Haspel. Photo: Win McNamee/Getty Images

CIA Director Gina Haspel threatened to resign in early December after President Trump cooked up a hasty plan to install loyalist Kash Patel, a former aide to Rep. Devin Nunes (R-Calif.), as her deputy, according to three senior administration officials with direct knowledge of the matter.

Why it matters: The revelation stunned national security officials and almost blew up the leadership of the world's most powerful spy agency. Only a series of coincidences — and last minute interventions from Vice President Mike Pence and White House counsel Pat Cipollone — stopped it.

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