A new report by the European Audiovisual Observatory reveals there were 197 active SVoD platforms in Europe at the end of 2016.
Trends in the EU SVoD market said the number increases to 330 if each linguistic version of the services is counted separately.
The report also found the SVOD market is the driving force behind the growth of the pay on-demand market, with 66 per cent of total 2016 pay on-demand service revenue, compared to just 11 per cent in 2011.
However, SVoD remains a comparatively small market compared to pay-TV, accounting for 18 per cent of all pay subscriptions in 2016, up from just one per cent five years earlier, and accounting for 6.8 per cent of revenues, up from 0.2 per cent.
SVoD services had 38.7 million subscribers in the EU at the end of 2016, increasing to 43.5 million in Europe including non-EU countries. This represents an annual growth rate of 55.5 per cent in the EU between 2011-16 and an annual growth rate of 54.2 per cent for Europe as a whole.