September 5, 2019
With global subscription VOD users topping 970 million by 2024, Netflix’s market-leader position will continue — although at a lower percentage, according to new data from Digital Research.
The SVOD pioneer will control 23% of the market with 219 million subs, followed by Amazon Prime Video (13%), Disney+ (8%) and Apple TV+ (1%). Chinese SVOD services operating domestically will account for about 30%.
DTV Research contends worldwide SVOD subscriptions will grow by 124 million this year.
While Netflix’s global market share is eroding, it will still remain atop other services, adding 79 million (largely international) subs by 2024.
“This comes despite the onslaught from new global players,” Simon Murray, principal analyst at Digital TV Research, said in a statement. “We have updated our forecasts based on June 2019 reported figures and the slew of announcements from the newer players.”
Regardless, Netflix revenue will reach $35 billion by 2024 — up 94% from revenue of $15 billion in 2018. Disney+ is expected to generate $7.4 billion with another $6 billion from Prime Video.