The Belgian TV and video market grew by three per cent in 2019 to reach €1.5 billion in value, Futuresource Consulting has found.
Liberty Global-backed Telenet has also announced a partnership with commercial broadcaster VTM to launch a new Flemish streaming service.
The report showed Netflix to dominate the SVoD landscape, with an annual increase of around 200,000 net subscribers for the third year running.
Meanwhile pay-TV commands “the lion’s share” of the video market, accounting for almost three-quarters of spend, though it is not expected to experience any growth throughout the forecast period to 2023.
Futuresource research analyst Margherita Grosso said: “To make an impact, Telenet and VTM’s owner, DPG Media, are aiming to play on the local angle, combining their existing catalogue of Flemish dramas with local and international content, with a launch planned for Q3 2020.
“The launch of Apple TV+ late 2019 and Disney Plus launching in summer will also provide much-needed competition, in turn helping to drive multiple SVoD subscriptions per household, as well as encouraging new households to subscribe for the first time.
“In response, Netflix will air its first Belgian original series, Into the Night, later this year. This upsurge of new SVoD services and ensuing choice will propel market growth rates beyond 25 per cent this year,” she added.