Streaming continues to accelerate media and entertainment evolution
It is no surprise that the Media and Entertainment industry has been experiencing a wildly accelerated evolution and at the centre of this is the ever-growing expansion of streaming platforms, their catalogues, plans and revenue models says research from BB Media and DEG International.
Data for the International Digital Entertainment: the Platforms & the Players report was collected through BB Media’s reports and services and covers subscription video-on-demand (SVOD), advertising video-on-demand (AVOD), EST, FAST, pay-TV and transaction video-on-demand (TVOD), up to and including Q1 2023. It outlines the industry’s evolution, penetration and value in different markets across the world, as well as the consumers’ engagement and preferences.
In the competition for the largest streaming library, the UK takes the lead (229,000 ) followed by Japan (202,000 ) and South Korea (198,000 ), with Italy (183,000 ) and Brazil (171,000 ) in fourth and fifth positions. The UK is also the country with the most announced titles in production in 2023 (27,000) most of which are intended for Netflix’s catalogue.
While most countries have a penetration rate of over 75% of viewers who watch content online, Brazil has a penetration rate of just 46%. Zooming out, the analysts noted that in LATAM in general, the level of online viewing is 47%. However, on average, six different platforms are used to watch content, making it the region with the highest usage of platforms.
The study added that it was possible to identify that the advertising revenue model is taking the world by storm, particularly in North America where AVOD penetration is highest, with 75% in the US and Canada, while LATAM has a penetration of 37% and EMEA of 60%. In APAC, where SVOD is the preferred way to watch for 82% of viewers, AVOD penetration was just 40%, said to highlight a strong preference in the market to pay for ad-free content. This does not align with the offer in these countries as it was found that in Japan and South Korea, the countries with the largest catalogues in the region, the predominant revenue model was TVOD.
Commenting on the report, BB Media CEO Tom Gennari said: “The audiovisual industry won in globalisation, developed in localisation, and achieves its greatest splendor in the globalisation of the local. This is only possible thanks to the collaboration of all companies that are part of this value chain.”
“As we watch SpaceX create a paradigm shift in space exploration, one where innovators try faster and fail faster too, our industry is embarking on its own new era of experimentation,” added Joe Braman co-chair, Digital Entertainment Group International & SVP international digital account management.
