October 26, 2022
Australian consumer interest in subscription streaming VOD, or Netflix, continues to grow down under. Overall SVOD revenue is projected to reach $3.4 billion by 2027, an 8.9% annual compound growth rate from $2.2 billion in 2022, according to analysis from GlobalData.
Subscriptions are projected to increase 7.7% per year through 2027 as consumers ditch pay-TV and embrace Netflix — Australia’s largest SVOD service. The Asian-Pacific region added 1.43 million new Netflix subs in the third quarter, ended Sept. 30, giving the streamer 36.23 million paid members and its largest growth market worldwide.
“A profound library of U.S. originals and English language drama and comedy series, movies, documentaries, and kids shows will help the company maintain its leadership position in the market,” Srikanth Vaidya, telecom analyst at GlobalData, said in a statement.
Meanwhile, Disney+ surpassed Stan to become the second largest SVOD player in terms of subscriptions in 2021, behind Netflix. Unlike most of its competitors, Disney+ has a single pricing plan with all the features available for one price rather than separate pricing tiers.
Stan and other Aussie pay-TV and streaming services continue to embrace live sports as a way to lure and sustain subscribers.
“Sports-related content plays a big role in Australian media. Hence, most operators maintain a sports theme within their SVOD platforms. For instance, Stan has Stan Sports, while Optus has Optus Sport,” Vaidya said.