MUMBAI: Streamers across the world are ready to pay for online video. According to a new study by analyst firm Digital TV Research, SVOD subscriptions will more than double between 2017 and 2023. While Global pay-TV and SVoD subscriptions are expected to reach 1.877 bn by 2023, traditional pay-TV(http://www.indiantelevision.com/dth/dth-operator/dish-tv) will only add 94 mn subscribers.
At the end of 2017, the number of subscribers stood at 222 mn in US which is predicted to reach to 289 mn subscriptions by 2023. But China will see the highest rate of growth by adding 171 mn subscriptions during this period to take its total to 610 mn. However, its pay TV subscription will grow by 32 mn only. India will add 49 mn pay-TV and SVoD subscriptions in this period.
Based on the new subscriptions, total subscription revenues (https://indiantelevision.com/iworld/over-the-top-services/global-ott-revenue-to-reach-129-bn-by-2023-says-study-180921) will increase by 11 per cent ($25.4 bn) to total $251 bn in this period. Due to cord cutting traditional pay-TV revenues will drop by $18.5 bn to $183 bn. On the other hand, SVoD’s revenue will climb by $43.7 bn to $69 bn. This revenue jump will lead to an increase in total share from 11 per cent in 2017 to 27 per cent in 2023.
The market leader US will see total revenue from $108 bn in 2017 to $105 billion in 2023. While Pay-TV subscription revenues will drop by $20 bn, SVoD additions will not be able to make up the shortfall.