The global number of SVoD subscriptions will increase by 86 per cent over the next five years, Digital TV Research has found.
Between 2018 and 2024, the total will increase by 439 million to reach 947 million. In 2019 alone the number will climb by 119 million.
Digital TV Research added that the average SVoD subscriber will pay for 1.78 subscriptions by 2024, up from 1.43 in 2018.
By 2024, Netflix will contribute 203 million subscribers (21 per cent of the global total), Amazon Prime Video 125 million (13 per cent), China 289 million (31 per cent), Disney+ 75 million and “others” 255 million.
Simon Murray, principal analyst at Digital TV Research, said: “China overtook the US in 2018 to become the gross SVoD subscription leader. These two countries will continue to dominate the world stage.
“China and the US will together account for 59 per cent of the global total by 2024. However, this proportion is down from 63 per cent in 2018, indicating that other countries are growing faster.”