Global video-on-demand streaming (SVOD) subscriber revenues will increase by 25% -- from $99 billion in 2022 to $124 billion, by 2028, projects Digital TV Research.
The U.S. is expected to account for $5 billion of the total $25 billion gain. China will be the second-largest contributor, adding $1 billion.
The subscriber revenue growth will come “despite most of the major platforms scaling back their content spend, which makes them less attractive to new subscribers,” says Simon Murray, principal analyst at Digital TV Research. “There is still plenty of growth left in the sector — both from international expansion and as U.S. pay TV subscribers continue to convert to OTT.”
Netflix will remain the dominant SVOD subscription revenue generator, with $32 billion by 2028 — more than Disney+, HBO and Paramount+ combined, according to the researcher’s SVOD Forecasts Update.
However, the Netflix 2028 total will be flat with 2022, with expected declines in North America and Latin America offsetting growth in Asia.
Disney+ is projected to see the largest SVOD revenue growth, with a gain of nearly $7 billion between 2022 and 2028.