According to research reports, SVOD revenue in Western Europe might triple to about $12.5 billion in 2023, up from $4.4 billion in 2017. Currently, the online streaming market of U.S. stands at $12.5 billion, but Europe is slowly catching up.
Simon Murray, Principal Analyst at UK-based Digital TV Research quoted, “These channels know their market, they know their audiences, better than anyone. If they can find the right programming and find the right business model that mixes advertising with subscription and doesn’t go head-to-head with Netflix, they’ll do well. Europe will be a big market, and there is a lot of space for everyone.”