The number of homes in Western Europe taking at least one SVOD subscription is expected to eclipse North America in 2024, Ampere Analysis reveals in a new report.
The U.K. and Germany are set to lead the gains in Western Europe’s subscription streaming economy, Ampere says. In 2024, the U.S. and Canada will fall to third place in the world’s largest regions for streaming homes after Asia and Western Europe. North America will also slip below half of the world’s streaming revenues next year.
Ampere notes this development is significant when it comes to content investments, with streamers increasingly shifting their resources to cater to growing international audiences. Asia is expected to benefit from this, as will Western Europe, Ampere says.
Guy Bisson, executive director at Ampere Analysis, stated: “Streaming saturation in North America is the primary driver for reduced growth. Other world regions still have headroom for new customers, both in terms of customers entirely new to streaming and in the number of services taken in each home. North America also losing its place as the largest revenue generating region can only accelerate the existing trend for focusing content investment on key growth markets having long-term implications for the U.S. production sectors and for inward investment into Asia and Europe.”