U.K. Digital Video Market Set for 40-Percent Growth this Year

LONDON: The U.K.'s digital video market—including SVOD and transactional services—is expected to generate revenues of £870 million this year, an increase of 40 percent on last year's figures, according to Futuresource Consulting.

"The digital video market came of age in 2014, attracting new customers to both transactional and digital video," said David Sidebottom, senior marketing analyst at Futuresource Consulting. "The total digital market grew by an impressive 55 percent to reach over £600 million, almost four times the level of 2011."

Sidebottom notes that SVOD more than doubled last year, accounting for 50-plus percent of the U.K.'s digital video revenues. Transactional digital video was also robust, though, rising 30 percent over the previous year.

Netflix, Amazon Prime Instant Video and Now TV are all showing impressive gains, Futuresource Consulting says. By end 2014, the U.K. had more than 7 million digital video subscribers. Futuresource Consulting projects this number to hit 13.6 million by 2019, delivering more than £1 billion in revenues.