A study from Digital TV Research forecasts that the number of gross subscription video-on-demand (SVOD) subscriptions will likely increase by 91%, 462 million, between 2018 and 2024 to reach 970 million with 2019 alone seeing 124 million additions.
The SVOD Forecasts Update also predicts that by 2024, SVOD leader Netflix will contribute 23% of the global total, Amazon Prime Video 13% and the forthcoming direct-to-consumer services Disney+ and Apple TV+, 8% and 1% respectively. Digital TV Research calculates that these four companies will control 45% of the global total. This leaves a substantial market for others, including 30% of global subscriptions in China where none of the four global players will operate.
Yet interestingly, the study also finds that even though the company will add 79 million subs between 2018 and 2024 to take its total to 219 million, Netflix’s dominance of global SVOD is falling. Netflix’s revenues are set to more than double from $15 billion in 2018 to $35 billion in 2024 – up by 134% despite subscriptions only climbing by 57%. Disney+ will generate $7.4 billion by 2024; ahead of Amazon Prime Video with $6.0 billion.
“This [growth] comes despite the onslaught from new global players,” said Simon Murray, principal analyst at Digital TV Research commenting on the SVOD Forecasts Update. "We have updated our forecasts based on June 2019 reported figures and the slew of announcements from the newer players.”
Yet interestingly, the study also finds that even though the company will add 79 million subs between 2018 and 2024 to take its total to 219 million, Netflix’s dominance of global SVOD is falling. Netflix’s revenues are set to more than double from $15 billion in 2018 to $35 billion in 2024 – up by 134% despite subscriptions only climbing by 57%. Disney+ will generate $7.4 billion by 2024; ahead of Amazon Prime Video with $6.0 billion.
“This [growth] comes despite the onslaught from new global players,” said Simon Murray, principal analyst at Digital TV Research commenting on the SVOD Forecasts Update. "We have updated our forecasts based on June 2019 reported figures and the slew of announcements from the newer players.”
