LONDON, March. 9, 2017 /PRNewswire/ -- The Global SVOD Forecasts report highlights the following:
● United States, China the two largest global markets
● In 2016, video on demand surpassed DVD sales
● Millennials favor streaming more than other groups
The number of homes worldwide with subscription video on demand (SVOD) services will reach 428 million by 2020, forecasts the Digital TV Research. Revenue will be 18 times higher than in 2010, reaching $32.18 billion.
The United States and China lead the market
● The U.S. and China will have the largest markets with 127 million and 74 million subscribers in 2021.
"North America supplies most of these subscribers at present, but Asia Pacific will become the top region by 2019," Simon Murray, Principal Analyst at Digital TV Research, said. "This comes despite Netflix being unlikely to secure direct access in China and only making a limited impact in other major population centers such as India and Indonesia. There are some large SVOD platforms in Asia Pacific that have been active for some time, especially via mobile phones."
Outpaces DVD Sales
● In 2016, SVOD outpaced DVD sales for the first time. Last year, $5.4 billion DVDs were sold compared to $6.2 billion in video on demand subscriptions, according to Digital Entertainment Group.
Millennials Prefer Streaming
● Since 2012, the number of hours Millennials view programming live has dropped 75% while the amount of streaming has increased 39%.
To see the report summary click here.
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