Global SVoD revenue to reach $124bn by 2028, forecast Digital TV Research

Global SVoD revenue will climb to US$124bn by 2028, up from US$99bn in 2022, according to UK analysis firm Digital TV Research.

The US will contribute US$5bn of the additional US$25bn between 2022 and 2028, with China adding US$1bn.

By platform, Netflix will remain top, with US$31.7bn in expected revenue by 2028 – more than Disney+, HBO and Paramount+ combined. However, the Netflix 2028 total will be flat compared with 2022, due to expected falls in North America and Latin America and growth in Asia.

Disney+ will reap the most additional SVoD revenue, climbing by nearly US$7bn between 2022 and 2028 to US$14.2bn. HBO will reach US$9bn by 2028, followed by Amazon’s Prime Video at US$7.5bn, Paramount+ at US$7.2bn and Apple TV+ at US$1.9bn.

Chinese SVoD platforms combined will make revenue of US$10.1bn by 2028, while other SVoD services around the world will generate combined revenue of US$42bn.

Simon Murray, principal analyst at Digital TV Research, said: “This growth comes despite most of the major platforms scaling back their content spend, which makes them less attractive to new subscribers. There is still plenty of growth left in the sector, both from international expansion and as US pay TV subscribers continue to convert to OTT.”