Revealing that contrary to recent reports there is still plenty of growth left in the industry, a study from Digital TV Research is forecasting that the global subscription video-on-demand (SVOD) market will increase by 400 million customers over the next five years to reach 1.76 billion.
The analyst’s Global SVOD Forecasts report calculates that by 2028, 24 countries will have more than 10 million SVOD subscriptions with six US-based platforms set to have 972 million SVOD subscribers by 2028, representing 55% of the world’s total. This is up from 711 million in 2022.
Digital TV Research noted that much of this fast growth will come from the younger platforms completing their global rollouts. Netflix will remain the largest platform with 277 million customers despite Disney+ adding 57 million subscribers between 2022 and 2028 to total 222 million. Netflix will add 46 million subscribers in this time frame.
The analyst’s Global SVOD Forecasts report added that its expects Amazon to total 265 million customers by 2028; Paramount+, 100 million; HBO, 80 million; and Apple TV+ 29 million. Chinese SVOD firms are set to provide 424 million subs.