OTT is all set to surpass box office revenues in 2019 thanks to the growing popularity of the SVOD platforms. As per reports, OTT revenues will reach USD $46 billion next year while estimated cinema revenue will be just under USD $40 billion. The decline will be a result of a theatrical showdown in North America and Western Europe.
A source quoted, “Our analysis of consumers in 15 markets reveals that although there are differences in the cost of cinema attendance by country, there’s clearly an appetite for content among some consumers whether that be on the big screen, or a smaller one.”
While the research looked at 15 international markets including Australia, Brazil, France, Germany, Japan, Mexico, Netherlands, Poland, Spain, Sweden, Turkey, the US, and the UK, in all the markets, SVOD subscribers turn out to be avid cinema-goers than non-SVOD subscribers. In nine out of 15 markets, SVOD subscribers said they go to the cinema at least twice as frequently as non-subscribers.