North American OTT to reach 270 million in 2024
According to Digital TV Research, the number of over-the-top (OTT) subscription video on demand (SVOD) subscriptions (for movies, linear ...
According to Digital TV Research, the number ofover-the-top (OTT) subscription video on demand (SVOD) subscriptions (for movies, linear channels and TV episodes - excluding other platforms such as sports services) in North America will climb by 110 million from 160 million in 2018 to 270 million in 2024. The figures are gross - many homes take more than one SVOD platform.
Digital TV Research forecasts that 77.8% of TV households (94 million) will subscribe to at least one SVOD platform by 2024. The average SVOD household is expected to pay for 2.89 SVOD subscriptions. This compares to 70.0% of TV households (84 million) subscribing to at least one SVOD platform by end-2018. The average SVOD subscriber paid for 1.91 SVOD platforms at end-2018.
Simon Murray, principal analyst at Digital TV Research, said: "Several high profile SVOD launches are imminent. We expect that Disney+ will have 25 million U.S. subscribers by 2024. Apple TV+'s growth will be more modest at 8 million by 2024. This means that Netflix's share of the total will fall from 37% in 2018 to 25% in 2024 - despite the company adding 10 million subscribers."