European video market will be worth €11 billion by 20223 May 2017
The European video market will be worth €11 billion (£9.3 billion) by 2022, according to the latest Dataxis research.
According to Dataxis, 2016 was the last year where the physical video market was worth more than the digital video market on the continent. By the end of 2022, digital video revenues in Europe will reach €8.5 billion (£7.2 billion), with Western Europe contributing up to 95 per cent of the total.
Following research, Dataxis predicts that most of the digital market growth will be associated with SVoD revenues, whereas TVoD revenues will remain stable.
SVoD will generate 70 per cent of the digital revenues in Europe in 2022, and Dataxis forecasts that there will be 80 million additional SVoD subscribers between 2016 and 2022. Europe will have 125 million SVoD subscribers across 32 countries by the end of 2022.
The Nordics and UK will remain the SVoD leaders with around 25 per cent of the market. Following Dataxis research, about 40 per cent of European households will subscribe to an SVoD offer by 2022, which will triple the SVoD households’ penetration rate of 2016.