The European market for over-the-top (OTT) video subscriptions is growing fast, and will reach €8.1 billion by 2021, according to a new report from Rethink OTT Intelligence. That translates into growth of €3.9 billion in just five years from the $4.2 billion it is today.
But European TV Everywhere services – those multi-screen services supplied free to paying TV subscribers – will outstrip the U.S. by 2021 reaching 103 million regular users. The report, “The Rise of Paid OTT in Europe” shows that the European OTT market is more diverse and advanced than any other video market in the world.
Although it has taken the stimulation of Netflix to trigger widespread subscription video-on-demand (SVoD) usage, already some 85 million are looking at paid OTT streams. Those numbers include both TV Everywhere (52 million) and SVoD (32 million).
Free to air OTT services in Europe are more deeply penetrated than anywhere else in the world, with close to 50 percent of the entire population over the age of 12 (216 million) watching free to air broadcast catch-up regularly across the EU countries.
Rethink also believes that current growth forecasts for Netflix in Europe are far too low, and need to be upgraded dramatically. At the end of 2016, 19 million viewers were signed up to Netflix — and by 2021 this will rise to a massive 45 million Netflix subscribers, with a further 17 million taking “other” SVoD subs.
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