The study showed that Scandinavians show strong interest in both local and international content, a trait that, when coupled with the region being one of the most advanced OTT markets in the world, means customers are there for the taking. And despite Scandinavia having an average of 2.4 SVOD services per SVOD household, Ampere said its research showed there was still room for more. It added that the market characteristics mean the region is a particularly attractive target for media players like Disney+, which recently enjoyed a successful launch locally, as well as local players that are able to satisfy demand for original language content.

Ampere sees the region’s OTT market as generally split evenly between local and international players. The former have captured large audiences, with Viaplay being the largest local player in terms of subscriptions across all four Nordic countries in 2020. While Netflix is still the largest single SVOD player, securing 32% of the Nordic OTT market by the first half of 2020, this is still lower than Netflix’s average market share in the rest of Western Europe.

Despite the launch of Disney+ and the forthcoming arrival of Paramount+, the Ampere study found that there was still room for additional services in Nordic households. It said that in a scenario where all pay-TV revenue is converted to OTT revenue, the average household would be able to subscribe to four services in Norway and Denmark and three services in Sweden and Finland. That would also be before accounting for discounted streaming bundles and other aggregation strategies that could break through the streaming stack ceiling.

Ampere also regards the Nordics as a likely region of interest for BritBox and other international players as they push ahead with ambitious international expansion strategies. BritBox’s classic English-language content is well-suited to the local audience, which rates British series highly. Ampere’s Consumer Media and Entertainment Tracker in Q3 2020 found that 21% of respondents in the Nordics watch British TV series very often, compared to 14% across all markets. The Nordics also over index for viewing American content, with 37% of respondents watching US TV series very often, compared to an average of 31% across all countries. While the quality of local content still remains essential, this unusually high interest in British and US series means studio-led new entrants should find favor in the region. nordic ott

“As a region where there is demand for both English language and local content, the Nordics is an attractive market for new international players to launch there while allowing local players to co-exist,” commented Ampere Analysis analyst Maria Dunleavey. “Our research has found Nordic households are not yet at SVOD capacity, but as new market entrants like Paramount+ edge closer to launch, the quality of content will prove key to capturing the interest—and wallets—of Nordic consumers.”