The global number of SVOD subscriptions is forecast to increase by 439 million between 2018 and 2024 to 947 million, a growth of 86 percent, according to Digital TV Research.
The total will climb by 119 million in 2019 alone, the firm says. The net subscriber count is expected to rise by 175 million between 2018 and 2024 to reach 531 million. This means that the average SVOD subscriber will pay for 1.78 SVOD subscriptions by 2024, up from 1.43 in 2018.
By 2024, Netflix is estimated to contribute 203 million subscribers (21 percent of the global total), Amazon Prime Video 125 million (13 percent), China 289 million (31 percent—neither Netflix or Amazon Prime Video will operate in China), Disney+ 75 million and 255 million others.
Simon Murray, principal analyst at Digital TV Research, said: “China overtook the U.S. in 2018 to become the gross SVOD subscription leader. These two countries will continue to dominate the world stage. China and the U.S. will together account for 59 percent of the global total by 2024. However, this proportion is down from 63 percent in 2018; indicating that other countries are growing faster.”