PwC: Streaming will make more than box office sales by 2020

The firm's been looking at the future of cinema...

Spending on streaming services will overtake box offices by as soon as 2020, according to a new report from PwC.

It forecasts that spending on services like Netflix and Amazon Prime will increase by 30%, swelling to £1.42bn in the UK by the end of the decade.

The firm predicts that this will be the first year in which streaming will generate more income than cinemas across the UK, which are expected to bring in £1.41bn in 2020.

"Demand for internet video shows no signs of slowing down," Phil Stokes, UK head of entertainment and media at PwC told The Guardian.

However, he warned that the cinema industry is not facing a major decline: "The figures do not signal the death of film. Look at the box office performance of films such as Star Wars: Rogue One or Fantastic Beasts and Where to Find Them to see the significant amount of enthusiasm for blockbuster movies out there."

It expects the total number of ticket sales in UK cinemas to rise from 172 million in 2016 to 179 million in 2021. The total number of screens will also grow, from 4,143 to 4,542.