Written by: Roshan Dwivedi
Spends in Western Europe on subscription video on demand services were €2 billion (US$2.2 billion) last year and the amount is expected to cross €3 billion by the end of this year. According to a recent study by IHS Markit, Netflix, Amazon Prime Video and Now TV are going to expand to contribute to spends of subscription video streaming services.
By 2018, SVOD market is forecasted to account 49% (€4.2 billion) of the home video market in the region. This is going to increase by a 58% (€5.2 billion) share by 2020. UK is going to be the standout market, retaining 35% share in the total market by 2020.