Global SVoD subscriptions are predicted to reach 777 million by 2023, according to new data from Digital TV Research.
The analysts suggest eleven countries will have more than 10 million SVoD subscriptions by 2023. China and the US will together account for more than half the world’s SVoD subscriptions by that time. The company predicts China will have the most SVoD subs from 2019 – despite multiple subscriptions being commonplace in the US. China will have 235 million SVoD subscribers by 2023 – up from 97 million in 2017.
Simon Murray, principal analyst at Digital TV Research, said: “The US will have 208 million SVoD subscriptions by 2023; up by an impressive 76 million on 2017 despite its relative maturity. Its share of the global market will fall from 36 per cent in 2017 to 27 per cent by 2023.”
Digital TV Research says that by 2023, Netflix will contribute 192 million subscriptions (25 per cent of the 777 million subscriptions), Amazon Prime Video 120 million (15 per cent), China 235 million (30 per cent - neither Netflix or Amazon Prime Video operate in China) and 230 million “others” (30 per cent). Netflix will add 82 million subscribers between 2017 and 2023.
The company forecasts 120 million Amazon Prime Video’s subscribers by 2023 – double the 2017 total. However, 110 million of the 2023 total will be in Amazon Prime territories, and therefore will not directly pay for the video platform.
SVoD revenues will reach $69 billion by 2023 according to the analyses; up by nearly $44 billion since 2017. The US will remain the SVoD revenue leader by a considerable distance – adding $17 billion between 2017 and 2023 to take its total to $29 billion.