According to research reports, consumer spending on video streaming services is forecasted to grow at 3 percent in 2019 to AU $5.3 billion (€3.3bn). By the end of 2018, Australia is set to become the first country to see the number of SVoD households overtake pay-TV in worldwide. The digital landscape continues to be dominated by SVoD platform, largely fuelled by Netflix. The number of subscription based video on demand subscribers is set to reach 6.1 million subscriptions by the end of 2018.
Joanna Wright, Senior Market Analyst at Futuresource Consulting quoted, “Pay-TV subscription revenue plays a key role in the strength and size of the overall video market, representing half of total video spend. Australia has one of the highest pay-TV ARPUs (Average Revenue per User) in the world, but the rise of low-cost pay-TV-Lite and SVoD services has led to more promotions and a fall in the ARPUs.”