SVOD consumption has overtaken pay TV in almost 30 countries
Total worldwide subscriptions are forecast to reach over 1 Billion by 2025, including huge growth in India and China.
India is forecasted to have the third highest number of SVOD subscribers worldwide by the end of 2020 due to increasingly affordable devices, cheaper data and faster internet access.
This growth will be driven by new services like MUBI, with Amazon and Netflix’s combined market share decreasing from 42% today to 34% by 2025.
Consumers in major markets are embracing multiple platforms and devices.
Stacking streaming services has become the norm
SVOD penetration will accelerate due to the heavy promotion by top services like Disney+ and HBO Max
SVOD stacking will accelerate as consumers adopt these new services without canceling existing subscriptions
74% of all US households have at least one SVOD service
51% have more than one SVOD service
How many OTT platforms have you registered? I have 3.
Exclusivity means that there is little overlap between different platform offerings.
Increased investment in content has turned streaming into a game of quantity vs quality
Platforms are optimising for time spent and size of library, others are focussed on increasing the quality of content and improving the user experience.
OTT and Engagement
Online platforms are engaging the audience beyond the viewing experience
Social and editorial features foster dialogue and a sense of community
Social viewing creates new opportunities for engagement
Examples for social viewing :
MUBI watch party
Twitch viewing parties
Social features mimic the collective experience of watching and discussing content with friends or family, while allowing for social distancing
To Be continued.
In the next part, lets look at How is digital expanding the scope of Cinematic content
Read Part 1 here