North American SVOD subscriptions to grow 53% by 2022
The new study claims that the number of people subscribing to TV and movie platforms will climb from 122 million in the region at the end of 2016, to 171 million by 2022.
“It is important to stress that these figures are gross – many homes take more than one SVOD platform, especially in the US. That explains why we forecast 132% SVOD penetration of US TV households by 2022,” said Digital TV Research principal analyst, Simon Murray.
The research estimates that 70.3% of US TV households will subscribe to at least one SVOD platform by 2022, up from 60.3% at the end of 2016.
By 2022 the average SVOD home is expected to pay for 1.88 SVOD platforms, up from 1.5 SVOD platforms at the end of 2016, with most dual SVOD subscriptions expected to be for Netflix and Amazon Prime Video.
These two platforms are tipped to account for 72.5% of North America’s SVOD subscribers by 2022 – down from 78.6% in 2017. However, Netflix in the US alone is expected to increase its subscriber count by 23% between 2016 and 2022 to reach 59 million.
“SVOD penetration growth of TV households will slow considerably, but SVOD homes will buy more services,” said the study.