Television revenues in Western Europe will rise from $39 billion last year to $50 billion in 2023, driven by OTT, according to new data from Digital TV Research.
OTT TV revenues for series and movies, encompassing SVOD and AVOD, are set to more than double from $9.8 billion to $23 billion, with pay-TV revenues slipping from $29.4 billion to $27.2 billion in the five-year period. SVOD revenues alone will grow from $4.4 billion to $12.5 billion. Netflix is expected to hold a 57-percent share of Western European SVOD revenues in 2023, up from 52 percent last year.
“Western Europe will have 205 million TV subscriptions by 2023; up from 153 million in 2017,” added Simon Murray, principal analyst at Digital TV Research. “We forecast 99 million SVOD subscriptions by 2023, up from 50 million by end-2017. Therefore, SVOD’s share of the total will grow from 33 percent to 48 percent. Nearly 15 million SVOD subs will be added in 2018 alone, with 11 million more expected in 2019.”