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According to a report by the International Federation of the Phonographic Industry (IFPI), streaming services now account for around 80% of the music industry's total revenue. The report also found that 64% of music listeners use streaming services to listen to music.
If you wanted to understand why entertainment executives were sleeping soundly in December 2021, you needed look no further than the industry's embrace of nostalgia. "The history of show business is a history of recreating stories in new forms with new bodies," Jason Davids Scott, interim director of The Sidney Poitier New American Film School, told The State Press . "We crave the familiar in a way that seems immediate and new".
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On the television side, Loki won TV Show of the Year. The Disney+ series, starring Tom Hiddleston as the God of Mischief, had been a critical and commercial hit, further expanding the Marvel Cinematic Universe into episodic storytelling. Its win signaled that the streaming wars were not just about volume but about quality— Loki was weird, philosophical, and visually stunning, a far cry from the procedural dramas that had dominated network television for decades. According to a report by the International Federation
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Major media conglomerates responded to market fragmentation by consolidation. Studios increasingly resisted funding original, unproven scripts. Instead, they funneled capital into interconnected cinematic universes, revivals, and spin-offs. This strategy mitigated financial risk by leveraging pre-existing fan loyalty across multiple media formats, including gaming, merchandise, and streaming series. The Evolution of Popular Media Infrastructure "The history of show business is a history
Meanwhile, Disney+ fans were deep into the weekly release of Hawkeye , while the anticipation was building for the upcoming premiere of The Book of Boba Fett , which was just weeks away.
December 7, 2021 (formatted as 21 12 07) stands as a landmark date in the evolution of modern entertainment and popular media. This specific period marked a massive convergence of streaming milestones, gaming industry shakeups, and viral social media trends. It perfectly captured how global audiences consume, share, and interact with content in the digital age.