European SVOD market to boom by 2022

As per reports, European SVOD market to hit $6.8 billion mark in 2022, up from $3.9 billion in 2017. The primary factors contributing to this humongous growth are the growing prominence of OTT players such as Netflix, Amazon Prime etc.

With the debut of international OTT services such as HBO, Showmax, etc. and the local providers such as Sky’s Now TV, ProSiebenSat.1 Media’s Maxdome, etc. the online streaming industry will grow exponentially.

According to reports, total paid subscriptions in the European market will grow from 39.3 million in 2017 to 60.8 million in 2022. The compound annual growth rate of 9.1% is a representation of paid subscriptions to online video services.

Currently, the UK has Europe’s highest no. of SVOD subscriptions followed by Germany. Netherland(45.1%) and France(10.3%) stands at number third and fourth respectively.

The majority of local players in Eastern Europe adopt a hybrid AVOD/TVOD/SVOD model focusing predominantly on advertising to generate revenues.