Right, the last full year was already back to 60% of the pre covid. This year is already on track to be back to 90%ish, if not back at growth. Such that the dip is clearly more attributable to what happened in the year 2020. None of the supposed "competitors" listed originated that year. So, again, I'm not sure that is showing the evidence of competition to big budget entertainment.
But 2022 still had a lot of hangover effects from the pandemic, is my view. Especially with this year on track to possibly be back at 2010 levels.
I don't deny that they are facing some problems. But I'm not willing to buy that it is the existence of instagram/tictok/etc. I have little doubt those could be involved. I have doubts that they are, though.
