film industry with established film study facilities such as the American Film Institute, LA Film School and NYFA being established in the area. Hollywood is the primary nexus of the U.S. The United States cinema (Hollywood) is the oldest film industry in the world and also the largest film industry in terms of revenue. The cinema of the United States, often generally referred to as Hollywood, has had a profound effect on cinema across the world since the early 20th century. As of 2019, Chinese cinema has the highest annual ticket sales with 1,650 million tickets sold. Indian cinema is the largest national film industry in terms of the number of films produced, with 2,446 feature films produced annually as of 2019. The transition, long anticipated by analysts, was accelerated by the COVID-19 pandemic. However, in 2020, China became the largest box office territory, overtaking North America in gross total. Hollywood is the world's oldest national film industry. When including box office and home entertainment revenue, the global film industry was worth $136 billion in 2018. In 2019, the global box office was worth $42.2 billion. Though the expense involved in making films almost immediately led film production to concentrate under the auspices of standing production companies, advances in affordable filmmaking equipment, as well as an expansion of opportunities to acquire investment capital from outside the film industry itself, have allowed independent film production to evolve.
The film industry or motion picture industry comprises the technological and commercial institutions of filmmaking, i.e., film production companies, film studios, cinematography, animation, film production, screenwriting, pre-production, post production, film festivals, distribution, and actors.
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