Streaming Market Value Growth by 2027
As reported in the “Macroeconomic Monthly of the Polish Economic Institute”, streaming platforms currently have 1.4 billion users, and revenues on the video streaming market (SVoD) will reach USD 108.5 billion in 2024.
Citing data from Statista Market Insights, PIE analysts indicated that by 2027 the global value of this market will increase to USD 137.7 billion.which translates into an annual growth rate of 8.3 percent. In turn, the number of users in 2027 (according to Digital TV Research) is expected to increase to 1.7 billion people.
US Dominance in the Streaming Market
PIE indicated that this year (with 1.4 billion users) the average revenue per person (ARPU) of platforms will amount to USD 76.6, which is a 54 percent increase compared to 2018. It added that The key player in the streaming services market is the United Stateswhich in 2024, according to forecasts, will generate USD 44 billion in revenue.
The publication shows that Netflix remains the market leader. In the second quarter of 2024, the company acquired over 8 million new subscribers, which is 3 million more than analysts predicted. As a result, the total number of subscribers to this platform exceeded 277 million. It was reported that Netflix’s revenue for the first half of this year amounted to USD 9.6 billion, which means an increase of 17% compared to 2023. The company also managed to improve profits per viewer. “As a result, profit per share increased by 48% – to USD 4.88,” it was indicated. It was also added that the forecasts for the next quarter assume a profit of USD 5.10 per share and revenues of USD 9.7 billion. It is estimated that the number of subscribers this year will increase by 5.2 million.
Netflix and Disney+ Successes in 2024
Disney+ can also boast a significant success this year – according to the authors of the report. In Q2 2024, the company achieved an operating profit of $ 47 million for the first time since its debut in 2019. “This success is due to cost cutting and the popularity of the Shogun and The Bear programs available on the Hulu platform, which Disney acquired in 2023,” it explained.
Disney – as written – is the leader in spending on creating its own content. In 2023, it spent $ 10.5 billion on this purpose, which is over $ 3 billion more than Netflix. Currently, Disney + is the third streaming platform in the world with over 150 million active subscribers.
Competition intensifies among streaming platforms
“Streaming platforms like Disney+, HBO Max, Amazon Prime, Paramount+, Apple TV and Hulu are intensifying competition, but the video on demand market still has significant room to grow,” it said.
According to data cited by PIE, the largest platform is Netflix with 277.7 million subscribers. The following places were occupied by: Amazon Prime – 200 million users; Disney+ – 153.6 million; Tencent Video – 115 million; iQIYI – 101 million; HBO Max – 86.6 million; Paramount+ – 71.2 million; Hulu – 50.3 million and Apple TV – 40 million. (PAP)
