The dramatic pandemic-fueled increase in streaming will help the streaming segment pass the 1 billion SVOD user milestone in 2021, according to TradingPlatforms.com.
And as usual, money seems to be following eyeballs. TradingPlatforms.com is predicting that global SVOD revenues will hit $100 billion in 2024, up from a projected $71 billion in 2021, $59 billion in 2020 and $45 billion in 2019.
TradingPlatforms.com is predicting that SVOD revenue will grow by a Compound Annual Growth Rate (CAGR) of 11.04% from 2021-2025.
The U.S. generates the most revenue from the SVOD segment, amounting to a projected $32B in 2021, followed by China as a distant second with $12B in 2021. Notably, the next three countries in the top five SVOD revenue rankings all registered revenues of under $3 billion, TradingPlatforms.com reported.
The report also noted that SVOD will hit a global penetration rate of 12.9% in 2021 and that the number of SVOD users increased by 20.4% in 2020 reaching an estimated 958.6 million.
Overall, TradingPlatforms.com is predicting that from 2021-2025, the number of SVOD users globally is expected to grow at a CAGR of 7.19% reaching 1.4 billion users by the end of the forecast period.
As of 2021, the U.S. leads the world in SVOD penetration rate at 45.7% followed by Sweden at 40.4%. The United Kingdom has a 35.5% penetration rate.
Commenting on the figures, Rex Pascual, editor at TradingPlatforms.com, noted that “the popularity of streaming services like Netflix was already well-recognized even before 2020’s pandemic. But the lockdowns imposed all over the world caused a spike in engagement that exceeded even the most liberal of projections. Expect the segment to build on this momentum as it looks to take over broadcast media in the coming years.”
This article was originally published on sister publication TV Technology.
