SVOD will overtake traditional Pay TV subscriptions in Australia in 2018, according to an annual study of the local SVOD market by research firm Telsyte.
The total paid uptake of SVOD services in Australia is expected to hit 3.8 million as early as June next year, overtaking the 3.3 million who pay for subscription TV services including Foxtel and Fetch.
The survey found 49 per cent of Australia households were paying for either SVOD or subscription TV, and 11 per cent have both. The study found there were 3.7 million SVOD subscriptions in June 2017, of which 78 per cent were being paid for and the rest were either complimentary or on free trials, a 30 per cent increase from the end of June 2016
The 3.8 million forecast SVOD subscriptions by mid-next year includes Foxtel’s recently relaunched streaming service Foxtel Now.
Netflix is dominating the market with a 55% share of subscriptions while Stan, which is 50-50 owned by Nine Entertainment and Fairfax Media has 24 per cent.
However in March a report by NBNco found Netflix had the lion’s share of the Australian SVOD market at 69% with Stan at a 20% share.
Source: Australian Financial Review