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European subscription OTT revenues to double by 2023 to USD 12.7 bln

Five subscription video-on-demand services accounted for around 84% of active paid subscriptions in the European market at the end of last year, according to Kagan research

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Revenues for subscription OTT services in Europe are expected to double over the next five years to USD 12.7 billion in 2023, from 6 million 2018 as competition heats up, according to a study from Kagan.
Growth will be pushed by a number of factors, including the expansion of international media players as well as new services launched by local players, from both incumbents and smaller players.
Competition should get an extra shot also from new alliances in the UK, Germany and France. Neverthess, the market in 2018 was still dominated by two main players: Netflix and Amazon. Five subscription video-on-demand services accounted for around 84% of active paid subscriptions in the European market at the end of last year.
Breaking down the usage of various services, The S&P Global Market Intelligence research group said that, as of the fourth quarter of 2018, Netflix accounted for 52% of online video service subscriptions and Amazon Prime Video for 21% in Europe.

Sky’s European services, which included Now TV and Sky Ticket, accounted for 4% of subscriptions. HBO’s services – HBO Nordic, Espana and GO – represented 3% of subscriptions, while Viaplay also accounted for 3%.

Over the past few years, online video services in Europe have experienced rapid growth, particularly those that follow the subscription revenue model,” said Kagan associate research analyst, Michail Chandakas.

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