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Monday, June 24, 2024

Australian SVoD Service Revenue Forecast to Grow

The subscription video on demand (SVoD) service revenue in Australia is expected to increase at a compound annual growth rate (CAGR) of 5.6% from $2.2 billion in 2023 to $3 billion by 2028, driven by a healthy growth in its subscribers, and steady rise in the average monthly revenue per unique SVoD household, according to GlobalData, a leading data and analytics company.

GlobalData’s latest Australia Subscription Video on Demand (SVoD) Forecast (Q1 2024), reveals that the SVoD subscriptions in the country will increase at a CAGR of 5.3% over the forecast period, in line with the continued migration of the traditional pay-TV viewers to on-demand video services.

Srikanth Vaidya, Telecom Analyst at GlobalData, comments: “The widespread availability of high-speed broadband services in the country, and an increase in fibre broadband household penetration will also facilitate the widespread adoption of SVoD services in Australia.”

The monthly average revenue per unique SVoD household in Australia is expected to grow from $24.2 in 2023 to $29.5 by 2028 driven by premium plans offered by operators with multi-screen options, superior resolution and ad-free content.

Netflix will lead Australia’s SVoD market and will account for the largest share of subscriptions through the forecast period.

Vaidya explains: “The profound library of US originals and English language drama and comedy series, movies, documentaries, and kids shows will help the company maintain its leadership position in the market.”

Disney+ and Amazon are the other global SVoD platforms that are quite popular in the country. Unlike most of its competitors, Disney+ has a single pricing plan with all the features available in one subscription price.

Vaidya concludes: “Sports related content plays a big role in Australian media. Hence, most operators maintain sports themed SVoD platforms. For instance, Stan and Optus both maintain sports themed SVoD platforms – Stan Sports and Optus Sport.”


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