During the past year, Swedish households have purchased an additional 700, 000 new SVOD-subscriptions and this has led to the paid video services market in the third quarter of 2020 reaching a new record level with strong growth compared with the equivalent period a year ago.
Surprisingly, Mediavision’s analysis revealed that Netflix, for the first time since its launch in the region in 2012, lost subscribers, 110, 000 down compared with the same period in 2019. However, Netflix was still the market leader at the end of Q3 2020 reaching approximately 1.5 million paying households in Sweden. But given that the total market is expanding, Netflix’s market share has decreased.
The growth in the number of subscriptions in Sweden, described by the analyst as substantial, was largely explained by Mediavision due service stacking. For the first time, Swedish SVOD-households now subscribe to more than two services on average. Mediavision’s analysis points towards the appetite for SVOD remaining high and a lot of people expresses interest to acquire yet another subscription.
“The third quarter of 2020 presents an interesting development of the Swedish streaming market. For the first time ever, SVOD-households subscribe to more than two services, whereas a certain loss is noted for Netflix,” remarked Mediavision CEO Marie Nilsson. “We believe that growth will continue, especially given the trend of increased interest as we approach the large holidays.”
The growth in the number of subscriptions in Sweden, described by the analyst as substantial, was largely explained by Mediavision due service stacking. For the first time, Swedish SVOD-households now subscribe to more than two services on average. Mediavision’s analysis points towards the appetite for SVOD remaining high and a lot of people expresses interest to acquire yet another subscription.
“The third quarter of 2020 presents an interesting development of the Swedish streaming market. For the first time ever, SVOD-households subscribe to more than two services, whereas a certain loss is noted for Netflix,” remarked Mediavision CEO Marie Nilsson. “We believe that growth will continue, especially given the trend of increased interest as we approach the large holidays.”
