Report: Global Streaming Subscriptions Will Increase by Over 400 Million by 2028; Reach of Connected TV Growing
Report: Global Streaming Subscriptions Will Increase by Over 400 Million by 2028; Reach of Connected TV Growing
It seems just about every streaming platform is having trouble adding subscribers in the United States these days. Even Netflix, the world’s largest streaming service only adds around 100,000 customers or so in North America every quarter, demonstrating that streaming services have penetrated about as far into the American consumer base as they’re going to.
The same cannot be said for international markets, however. Digital TV Research’s has released a new report which forecasts the performance subscription video-on-demand (SVOD) platforms like Netflix, Hulu and Prime Video between now and 2028, and it indicates that global SVOD subscriptions will rise by 400 million users in that time. These customers will come primarily from the Asian and Pacific markets, and their additions will bring the total number of global SVOD users to 1.76 billion.
Netflix will lead the way, as Digital TV Research estimates it will add 46 million users in the next five years. Disney+ will add more new subscribers than Netflix, though if its new users climb by 57 million as projected, it will still have a smaller customer base than Netflix overall. One particularly intriguing note from the data is that Prime Video is expected to pass Disney+, nearly matching Netflix’s subscriber count with a projected total of 265 million customers.
Perhaps this is a reflection of how Digital TV Research sees Amazon’s Prime service spreading over the next half decade. Since Prime Video is included in every Prime subscription, its reach is automatically increased as Prime is adopted by more global users. New, procedural TV titles like “Citadel” could also help Prime Video grow its subscriber pool, as these shows are highly popular with audiences.
The findings from Digital TV Research go hand-in-hand with a new study from Innovid, which shows that streaming video is increasingly moving away from the mobile and desktop formats. Connected TV CTV) now accounts for over half (51%) of global video impression share, up from 31% in 2019. That means that more than half of all ads shown on streaming video are now watched on smart TVs and connected streaming players, as opposed to mobile phones or desktop computers.
This means that users are growing more and more accustomed to thinking of streaming as a product for the biggest screens they’ve got. This reflects changes in content available from streamers, and the lowering price and increasing availability of CTV. As the number of streaming customers in the world grows, demand for CTV will continue to increase as well. Users want to stream their favorite content on the largest possible screen, and prices for streaming devices and smart TVs make them more accessible than ever before.
Prime Video
Prime Video is a subscription video streaming service that includes on-demand access to 10,000+ movies, TV shows, and Prime Originals like “The Lord of the Rings: The Rings of Power,” “Jack Ryan,” “The Marvelous Mrs. Maisel,” “The Boys,” and more. Subscribers can also add third-party services like Max, Showtime, STARZ, and dozens more with Prime Video Channels. Prime Video also offers exclusive live access to NFL Thursday Night Football.