Report: Netflix, HBO Drive Norwegian SVOD Market

Norway continues to expand over-the-top video consumption in Western Europe – spearheaded by subscription streaming video services such as Netflix and HBO Nordics.

New data from Futuresource Consulting found the Norwegian home video market grew 6% in 2018 — with 20% of consumers using SVOD services and spending 2.5 billion NOK ($290 million).

The London-based research firm said Netflix has dominated the Nordics with more than 1 million subscribers since launching service there in 2012.

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“The 26-35 age group has proven to be the key age demographic for Netflix and has almost gained a utility status,” market analyst Tristan Veale wrote. “As these consumers come of age, they have their own disposable income and convert from being Netflix users on someone else’s account, to account holders themselves.”

Veale said HBO accounted for 20% market share despite the lack of new “Game of Thrones” programming in 2018.

Regardless, Futuresource said traditional pay-TV remains strong in Norway, accounting for 70% of total home entertainment consumer spending. The company contends by 2023, the average Norwegian household will subscribe to two SVOD services, with OTT household penetration reaching nearly 80%.

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