A study from Digital TV Research has revealed Western Europe will have a burgeoning TV market over the short and mid-term with 205 million TV subscriptions by 2023, up from 153 million in 2017.
The company’s Western Europe TV Outlook report forecasts 99 million subscription video-on-demand (SVOD) subscriptions by 2023, up from 50 million by end-2017, meaning SVOD’s share of the total will grow from 33% to 48%. Nearly 15 million SVOD subs will be added in 2018 alone, with 11 million more expected in 2019.
Such growth is predicted to drive Western European TV revenues to reach $50 billion by this time, up from $39 billion in 2017. Powering this revenue will be over-the-top (OTT) revenues for TV episodes and films — including advertising VOD (AVOD) — which are projected to more than double from $10 billion to $23 billion. This says the survey will push OTT’s share of the total up from 26% to 46%. By contrast, pay-TV revenues will fall by $2 billion over the same period.
At the same time, the Western Europe TV Outlook report noted that subscription VOD revenues will total $12.47 billion by 2023 – up by $8 billion from $4.44 billion in 2017. Netflix is set to account for 57% of Western Europe’s SVOD revenues by 2023, up from 52% in 2017.
Such growth is predicted to drive Western European TV revenues to reach $50 billion by this time, up from $39 billion in 2017. Powering this revenue will be over-the-top (OTT) revenues for TV episodes and films — including advertising VOD (AVOD) — which are projected to more than double from $10 billion to $23 billion. This says the survey will push OTT’s share of the total up from 26% to 46%. By contrast, pay-TV revenues will fall by $2 billion over the same period.
At the same time, the Western Europe TV Outlook report noted that subscription VOD revenues will total $12.47 billion by 2023 – up by $8 billion from $4.44 billion in 2017. Netflix is set to account for 57% of Western Europe’s SVOD revenues by 2023, up from 52% in 2017.
