According to reports, the number of households worldwide paying for streaming video now exceeds 250 million. The report also suggests that the number will reach about 300 million by the end of 2018 and more than 450 million by 2022, all thanks to the growing popularity of online video platforms such as Netflix, Amazon Prime, Hulu etc.
The report also reveals that average monthly household spending on SVOD increased 5% last year. In the US, highest penetration of SVOD service is there that includes 59% of households who hold at least one subscription.
Michael Goodman, director, TV & media strategies, quoted, “Streaming video is rapidly becoming a normal part of people’s entertainment options. Usage is already at around half of households in the most mature markets and is likely to reach those levels in many other countries in the near future.”
The report incorporated data from Netflix, Prime Video, Hotstar, IVI.ru, Hulu, Viu, and iFlix. Also, the report excluded online TV services such as NowTV and DirecTV Now from the survey.