The number of subscriptions to SVoD services are predicted to double globally by 2024, according to new figures from Digital TV Research.
The analysts predict the number of gross SVoD subscriptions will increase by 91 per cent – or 462 million – between 2018 and 2024 to reach 970 million. The total will climb by 124 million in 2019 alone.
According to the company, by 2024, Netflix will contribute 23 per cent of the global total, Amazon Prime Video 13 per cent, Disney+ 8 per cent and Apple TV+ 1 per cent. These four companies will control 45 per cent of the global total.
Digital TV Research also predicts that Netflix’s revenues will more than double from $15 billion in 2018 to $35 billion in 2024 – up by 134 per cent despite subscriptions only climbing by 57 per cent. It also suggests Disney+ will generate $7.4 billion by 2024; ahead of Amazon Prime Video with $6.0 billion.