Pay TV accounted for 86% of global video entertainment spending in 2016, but SVOD is growing fast, according to a new report from Futuresource Consulting.
Overall, consumer spending on global home video entertainment grew 3% to $251.5 billion in 2016 from the previous year, Futuresource said. The consulting firm expects
the market, which includes pay TV, digital video and packaged video, to grow by 3% annually to $280 billion by 2020.
“SVOD was the standout performer of 2016 and momentum is expected to continue well past 2020,” said Tristan Veale, market analyst at Futuresource.
Futuresource expects global SVOD subscriptions to nearly double by 2020, to 485 million, from roughly 236 million at the end of 2016.
Read more at broadcastingcable.com.