The analyst calculated that the combined revenue for broadcast TV and web TV reached close to 24 billion SEK 2017. Web TV revenue soared, increasing 20% compared with 2016 overall and with increases seen both with ad and subscription revenues. Mediavision added that the growth in viewership and turnover can largely be attributed to subscription based streaming services (SVOD) such as Netflix, Viaplay and C More.

Mediavision sees the Swedish TV market as continuously transforming and that an increasing consumer interest in streaming services is expected to drive the TV market also during 2018, with consumers choosing streaming services are at an increasing rate and web TV viewership continuing to rise during the year. It predicts SVOD revenue to surpass three billion SEK during 2018.

Despite 2018 being an eventful year with several large events such as the Olympics and the FIFA World Cup, Mediavision’s forecasts broadcast TV consumption is expected to drop an additional 6% compared with 2017.

“During 2017 revenue has shifted toward streaming services, which naturally reflects a change in consumption habits,” commented Marie Nilsson, CEO of Mediavision. “At the same time, traditional TV revenues remain strong despite the absolute majority of growth in consumption happening on the digital side. What’s driving the growth at the moment is an increase in subscribers, as well as ad based streaming services rising quickly. Mediavision believes in a continued strong growth over the coming years due to streaming services improving and consumption continuously rising.”