The number of global SVOD subscriptions will approach 1.5 billion within five years.
According to Digital TV Research, SVOD subscriptions will increase by 591 million between 2020-26 to reach 1.495 billion. This will be an increase of 65%.
The total will surpass 1 billion this year, and follows a peak year for SVOD sign ups in 2020 when 201 million new accounts were activated. This was largely due to the Covid-19 pandemic, along with the influx of high-profile streaming services such as Disney+ and HBO Max in the US.
The report also notes that SVOD subscription growth will outpace the number of SVOD subscriptions, meaning that the average SVOD subscriber will pay for 2.14 services by 2026. This is up from 1.74 per subscriber in 2020.
Simon Murray, Principal Analyst at Digital TV Research, said: “There will be 700 million SVOD subscribers by 2026; up by 35% from 518 million at end-2020. The 2026 total represents 39% of TV households, increasing from 30% in 2020.”
In terms of geographic concentration of subscriptions, the US will become the leader this year, overtaking China. The two countries will account for 48% of the global total by 2026, down from 59% in 2020. This comes as a result of explosive growth in other countries, particularly India where the total of subscriptions will nearly triple over the period to 155 million.