Analysis of VOD Markets in Europe, 2021-2024 - Major Transformations in the Content & Convergence Industry, Accelerated by COVID-19
DUBLIN, June 30, 2021 /PRNewswire/ -- The "Video on Demand (VOD) in Europe 2021-2024: The New Normal" report has been added to ResearchAndMarkets.com's offering.
Total revenues of the VOD sector in Western Europe will steadily increase from €10,655 million in 2020, which was astonishing in many ways, to €18,031 million in 2024, keeping with a still double-digit average annual growth of 12%.
VOD in Europe: 2021-2024: The New Normal is a unique study of its kind to understand the major transformations in the content and convergence industry in Europe.
2020 saw SVOD grow at one of the fastest rates on record, with more subscribers added than at any other time in history. The acceleration of cord-cutting and the shift to video streaming during the pandemic has led to a faster-than-expected migration to on-demand services on a global scale. Thus, for the first time ever, more people globally will pay for online video services than for pay-TV, and the resulting increase in video streaming spending means that online video has become the leading source of TV and video revenue around the world.
2021 will be the year of the transition to the New Normal, reinforcing all the social and consumption habits that we have experienced in the last 12 months.
A new sector that will see the massive entry of OTTs into the content market will be sport. The landscape of the Big 5 of football in Europe (UK, Germany, Spain, Italy and France) will change radically in the coming years. VOD, in just 48 months, will go from 6% of total spending for media rights to 24%, well over one billion euros.
Starting next year, more than half of the total football content of the top flight championships and the Champions League will be available to subscribers through broadband services. Following this backdrop, sports TV rights revenues are expected to reach over €71 billion by 2024 across Europe. The most profitable will still be football rights, which will go from €11 billion to €27 billion over the period, thanks above all to the rights of the top 5 European leagues and the increasingly massive entry of operators such as Amazon and DAZN. If 2018 was the turning point and 2019 was the year of expansion, 2020, therefore, represents a watershed in the relatively short history of VOD in Europe.
The research report expects the 2020 trend to continue, albeit a little more slowly, and lead to a substantial increase in revenues, favoring one business model in particular, the Subscription VOD. As a result, the analyst expects VOD revenues in Western Europe to steadily increase, at an average annual growth rate of 12%.
In terms of market share, TVOD will grow much less, decreasing in importance in the following years. Consequently, in 2024 SVOD will represent 87% of the total revenues, while TVOD will represent the remaining 13%.
COVID-19's Impact on VOD
The pandemic has accelerated the past year's trends, leading to increased streaming video consumption. In particular: the time spent has grown consistently, encouraging people staying at home during long periods passed in lockdown to enjoy more and more in-home entertainment; on specific categories, less incline to the use of the digital technology, the free trial proposition during the pandemic has represented a major incentive to familiarize and get used for the first time with the VOD services; as more people have stayed at home, watching screen through the day, the primetime peak has shifted with viewing spread more evenly across hours of the day.
As a result, on-demand services have experienced greater popularity, extending their influence on all Western Europe households, reaching the mass market in many countries.
Therefore, the analyst recorded a very consistent increase in take-up and consequently in revenues in 2020, unexpected and unmatched to such an extent, as a result of all the above-mentioned trends, together with the rapid growth of Disney+ and the other VOD services whose launch were scheduled later in that year. As a matter of fact, if 2017 was the year of the breakthrough and 2018, 2019 were the years of the expansion, 2020 represents a watershed in the relatively short history of the VOD in Europe.
For the future, in the next three years (2021-2024), the analyst envisages further key factors that will drive VOD development: technology innovation (5G, Big Data and Artificial Intelligence); supply-side (crisis of pay-TV, new offers, strong recovery and incentives in local production); demand side (consumption, social media, etc.). As a result, paid for video on demand will experience a further reduction of the differences still existing within Western Europe territories as VOD will reach the mass market in any country as early as 2021.
Key Topics Covered
1. Preface
2. Executive Summary
3. The post-COVID-19 Era: From Resilience to Growth
- 2021: A transition time to the new normal?
- Pandemic impact on selected sectors
- e-Commerce
- Telecom (traffic) and video streaming
- Gaming
4. Pandemic Impact on the VOD Industry
- SVOD and TVOD: the definitive shift from broadcast to broadband
- Production
5. Sports VOD the Game Changer
- Market Overview
- The Sports' VOD market in Europe
- VOD football rights market evolution in Europe
- The UK
- Germany
- Spain
- France
- Italy
- Main OTT Sports Players
- Amazon
- DAZN
6. The Video-On-Demand Sector in Europe
- Overview
- Best cases, main players, and country analysis
- The UK
- Germany
- France
7. Market Forecast
- On demand pay services revenues
- Revenues from single transaction: TVOD
- Subscription Revenues: SVOD
- VOD revenues in the main countries: Big 3 (France, Germany, UK)
- VOD revenues in the Other countries
Companies Mentioned
- Amazon
- Apple
- BeIN Sport
- BritBox
- BT Sports
- Canal+
- Comcast
- DAZN
- Disney
- Eleven Sports
- ESPN
- Eurosport
- FloSports
- Google Play
- HBO Max
- HULU
- iFollow
- Joyn
- Maxdome
- Mediapro
- Mediaset
- MyCujoo
- Netflix
- Now TV
- Orange
- Paramount
- Peacock
- Rakuten TV
- RMC
- Sky
- Telefonica
- Viaplaay
- YouTube
For more information about this report visit https://www.researchandmarkets.com/r/182hkm
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