Australian subscriptions to streaming services like Netflix, Presto and Stan will grow by a factor of 17 between the end of 2014 and the end of 2019, according to new research.
The new Ovum study claims that subscription video-on-demand (SVoD) services have grown rapidly in Australia since Netflix moved into the market in May, with competition from free-to-air and pay TV incumbents driving takeup.
SVoD subscriptions in Australia will climb from 270,000 in December 2014 to 4.7 million by the end of 2019, according to Ovum’s forecasts
“SVoD, pay TV and free-to-air are distinct consumer propositions that meet different needs. We expect SVOD to grow fast, but we also expect pay TV to maintain its dominance of sport and for free-to-air to remain popular,” said Ovum research director David Kennedy.
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