Subscription-based streaming media is growing rapidly. In 2023, global revenue from SVOD is expected to reach $95.3 billion, up 18% from the previous year. By 2027, revenue is projected to soar to $137 billion, an impressive 73% increase.
This growth is being driven by a number of factors, including the increasing availability of high-speed internet, the growing popularity of mobile devices, and the rising demand for on-demand content. As consumers shift their viewing habits away from traditional TV and towards streaming services, SVOD is becoming the dominant force in the media industry.
The United States is the largest SVOD market, generating $39.2 billion in revenue in 2023. China is the second-largest market, with revenue of $19.4 billion. The United Kingdom is the third-largest market, with revenue of $5.5 billion.
The growth of SVOD is having a major impact on the media landscape. Traditional media companies, such as television networks and movie studios, are facing increasing competition from streaming services. In order to survive, these companies are increasingly turning to SVOD as a distribution platform.
The rise of SVOD is a major trend in the media industry. It is likely to continue to grow in the coming years, as more and more consumers shift their viewing habits to streaming services.
