Western Europe set to overtake North America in streaming in 2024 | Media Analysis | Business | News | Rapid TV News
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Research from Ampere Analysis has revealed that the number of households taking at least one subscription OTT service in Western Europe is set to surpass North America next year, with the UK and Germany driving much of this growth.
Ampere 13 Sep2023
With countries outside of North America forecast to drive streaming growth, the study also found region will also no longer account for the majority of streaming revenue, falling below 50% of global revenue in 2024. North America, defined as USA plus Canada, will fall to the world’s third-largest geographic region for streaming homes after Asia, and now Western Europe.

The study emphasised how global streamers have been increasingly targeting international markets for production to satisfy the demands of audiences outside the US and bolster further growth in regions with the most potential for new customer acquisition. It noted that already only 43% of Netflix’s upcoming series are being made in the US and other streamers are following suit. Amazon Prime and Disney+ also now make less than 50% of their upcoming shows in the USA. Paramount+ is rapidly heading the same way.

Ampere added that with Asia holding the crown as the fastest-growing and largest region for streaming, the region was likely to see the biggest increase in focus for content investment with a knock-on effect for viewers who will see more and more Asian-origin content on their streaming platforms. Western Europe was also regarded as an increasingly influential source of content on streaming as, moving forward, set to remain the second strongest region for streaming customers.

“Streaming saturation in North America is the primary driver for reduced growth. Other world regions still have headroom for new customers, both in terms of customers entirely new to streaming and in the number of services taken in each home,” remarked Ampere Analysis Executive Director Guy Bisson.

“North America also losing its place as the largest revenue generating region can only accelerate the existing trend for focusing content investment on key growth markets having long-term implications for the US production sectors and for inward investment into Asia and Europe.”