SVOD Revenues to Hit $124 Billion by 2028

New forecasts from Digital TV Research project that global SVOD revenues will rise from $99 billion last year to $124 billion by 2028.

Of the additional $25 billion in revenues from 2022 to 2028, the U.S. will add $5 billion, with China adding $1 billion.

“This growth comes despite most of the major platforms scaling back their content spend, which makes them less attractive to new subscribers,” said Simon Murray, principal analyst at Digital TV Research. “There is still plenty of growth left in the sector—both from international expansion and as U.S. pay-TV subscribers continue to convert to OTT.”

Netflix is expected to remain the market leader by revenues, with $31.7 billion by 2028. This is more than Disney+, HBO and Paramount+, Digital TV Research projects. Netflix’s growth trajectory has slowed, though, Digital TV Research says, with 2028 revenues flat on 2022 as gains in Asia help to offset falls in North America and Latin America. Disney+, meanwhile, is projected to add some $7 billion in revenues between 2022 and 2028 to reach $14.2 billion.