Video-on-demand (VOD) service subscribers in the Asia Pacific region are set to exceed the total registered in North America this year, according to new research.
Paid subscriptions to VOD offerings around the globe are on course to reach 546 million by 2022, twice as many as the 263 million recorded at the end of 2016, according to Digital TV Research. Of these, 43 percent of subscribers will be from the Asia Pacific region by 2022, while 31 percent will reside in North America. In 2016, the Asia Pacific accounted for 35 percent of the overall subscription video-on-demand (SVOD) subs around the world, while North America was home to 43 percent of them.
“Netflix’s dominance of global SVOD is falling – from a third the global subscribers in 2016 to a quarter by 2022. However, the company will enjoy considerable growth – adding 28 million subscriptions between 2017 and 2022,” said Simon Murray, principal analyst at Digital TV Research.
A decline in the global share of SVOD revenues is forecast for the US streaming giant Netflix, from 45 percent in 2017 to 40 percent in 2022, researchers said. Yet, despite this, Netflix’s revenues will increase by 55 percent between 2017 and 2022.
Total global SVOD revenues are set to reach USD 41 billion in 2022, more than double the USD 17 billion figure of 2016, said Digital TV Research. – Rapid TV News