There is a continued acceleration in the development of video streaming, which will inevitably lead to a decline in pay TV fruition.
The latest report by ITMedia Consulting, “Video on demand in Europe: 2021-2024 – The new normal”, one of three multiclient reports from Media Consulting, shows progressive growth in SVoD. SVoD, an acronym for “Subscription Video on Demand”, had more subscribers added in 2020 than ever.
The pandemic has accelerated the digitization processes in many areas, not excluding home entertainment. Thanks to the pandemic, video-on-demand services will, for the first time, record higher revenues than pay-TV, bringing the development of on-demand services such as Netflix, Amazon prime and Disney plus back to a global scale.
Another sector that will develop massively in terms of video on-demand services will be sport. In the sports landscape, VOD ( video on demand) will grow from 6% for media rights to 24%, exceeding €1 billion. The most lucrative sports TV rights revenues will remain in football sector, which will rise from €11 billion to €27 billion thanks to the rights of the top five European leagues and the entry of well-developed and well-known OTTs (Over-The-Top) such as DAZN and Amazon.
In addition, ITMedia Consulting, has predicted that in 2024 SVOD will account for 87% of total revenues, while TVOD (Transactional Video on Demand) will account for the remaining 13%.
For further informations please consult ITMedia Consulting.