The number of SVOD subscriptions for movies, linear channels and TV episodes (and excluding other platforms such as sports services) in North America will climb by 110 million from 160 million in 2018 to 270 million in 2024, according to Research and Markets. These figures are gross – many homes take more than one SVOD platform.
The research group predicts that the upcoming Apple TV+ will see “modest” growth to eight million by 2024. Apple’s upcoming streaming service will debut this fall.
Research and Markets forecasts that 77.8% of TV households (94 million) will subscribe to at least one SVOD platform by 2024. The average SVOD household will pay for 2.89 SVOD subscriptions. This compares to 70.0% of TV households (84 million) TV households subscribing to at least one SVOD platform by end-2018. The average SVOD subscriber paid for 1.91 SVOD platforms at end-2018.
Several high profile SVOD launches are imminent. Research and Markets expect that Disney+ will have 25 million U.S. subscribers by 2024. The research group says that Netflix’s share of the total will fall from 37% in 2018 to 25% in 2024 – despite the company adding 10 million subscribers.