According to Digital TV Research, Western European OTT TV episode and movie revenues will reach $23.02 billion in 2023, more than double the $9.84 billion recorded in 2017.
The Western Europe OTT TV & Video Forecasts report estimates 98.85 million SVOD subscribers by 2023, up from 50.34 million at end-2017. Nearly 15 million subscribers will be added in 2018 alone, with 11 million more expected in 2019.
SVOD became Western Europe’s largest OTT revenue source in 2016, overtaking AVOD. SVOD’s share of the total will reach 54 percent by 2023, up from 45 percent in 2017. SVOD revenues will almost triple, reaching $12.47 billion in 2023, up from $4.44 billion in 2017.
The U.K. will remain the SVOD revenue leader by some distance, generating as much as second-placed Germany and third-placed France combined by 2023. Simon Murray, principal analyst at Digital TV Research, said: “The U.K. is the largest OTT revenue earner in the region by some distance. Its $2.98 billion generated 30 percent of the 2017 total. The U.K.’s $6.80 billion in 2023 will represent a similar proportion.”
By 2023, 69.3 percent of Western European TV households will subscribe to an SVOD platform, up from 38.4 percent at end-2017. Norway will have the highest proportion, at 104.8 percent by 2023. Germany, Italy, France and Spain will all fall below the regional average by 2023.