Global SVOD subscriptions to reach 777 million by 2023 | VOD | News | Rapid TV News
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A study from Digital TV Research is predicting that the worldwide paying subscription video-on-demand customer base is set to increase by 409 million between 2017 and 2023.
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This, says the Global SVOD Forecasts report, would represent a total of 777 million with eleven countries alone having more than 10 million subscriptions by 2023.

The report provides detailed forecasts for 694 platforms across 138 countries – covering movie and TV episode subscriptions, but not other services such as dedicated sports platforms. The figures are for paying subscriptions only and do not include trialists.

It also found that China and the US will be the global drivers of the SVOD market together accounting for more than half the world’s subscriptions by 2023. China is projected to become the global subs leader from 2019 despite multiple subscriptions being commonplace in the US. China will likely have 235 million SVOD subscribers by 2023, showing aggressive growth from 97 million in 2017. By contrast, the report suggests that the US will have 208 million SVOD subscriptions by 2023;, up by an impressive 76 million on 2017 despite its relative maturity. The US’s share of the global market will fall from 36% in 2017 to 27% by 2023.

Looking at individual firms whose products will shape the industry, not surprisingly the survey shows that Netflix will maintain its iron grip of SVOD up until 2023 when it will likely will contribute 192 million subscriptions, a quarter of the total. Netflix is set to add 82 million subs between 2017 and 2023. Chasing Netflix will be Amazon Prime Video, projected to have 120 million subs (15%) by 2023, double that generated in 2017. However, 110 million of the 2023 total will be in Amazon Prime territories, and therefore will not directly pay for the video platform. China, where neither Netflix or Amazon Prime Video operate, will likely have 235 million subs by 2023 (30%).

The Global SVOD Forecasts report suggests that this subs growth will be the catalyst for SVOD revenues reaching $69 billion by 2023, up by nearly $44 billion since 2017. Despite the rapid growth in Chia, 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.