February 27, 2018
Households worldwide paying for streaming video services exceeds 250 million, according to new data from Strategy Analytics. The firm predicts the number of homes paying for SVOD services such as Netflix and Amazon Prime Video will reach about 300 million by the end of 2018 and more than 450 million by 2022.
Strategy Analytics says average monthly household spending on SVOD increased 5% in 2017 to $9.46, with total number of subs reached 345 million by the end of 2017
Households paying for streaming video used on average 1.39 services, with the United States having the highest penetration of SVOD, including 59% of households using at least one service at the end of 2017.
“Streaming video is rapidly becoming a normal part of people’s entertainment options,” Michael Goodman, director, TV & media strategies, said in a statement. “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 London-based data incorporated Netflix, Prime Video, Hotstar, IVI.ru, Hulu, Viu and iFlix. It did not include online TV services such as Sky’s NowTV and DirecTV Now.
“Clearly market leaders like Netflix and Amazon will benefit from this trend, but there are also major opportunities for media companies that currently focus on more traditional pay TV and content development business models,” Goodman said.