SVOD viewing to equal broadcast TV by 2023
China and North America will lead the market for streaming video on-demand services with subscribers set to grow to 743 million in the next four years.
The number of subscription video on-demand (SVOD) viewers will surpass that of traditional broadcast TV with projected viewing hours per day, subscribers and revenue set to steadily grow.
Research from Rethink TV projects the 478 million global SVOD subscribers today will grow to 743 million over the next four years with daily viewing hours indicating that SVOD viewing is likely to match traditional broadcasting globally by 2023.
Regionally, Asia will see advertising video on-demand (AVOD) services as the most popular, while the US and Europe will have a flurry of competition in addition to the current favourite Netflix and Amazon options.
Some 26% of global SVOD subscribers will belong to Netflix, reaching a total of 194 million global viewers in 2023 and is estimated to remain the favourite service among audiences.
In the US, Netflix today accounts for 44% of subscriptions, but will only be 31% of…
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