The new ITMedia Consulting Report out today
Video on Demand in Europe 2021-2024
The New Normal
The trend and prospects of the European content market are still at the center of the new ITMedia Consulting Report “Video on Demand in Europe: 2021-2024 - The New Normal”, out today, 10 June.
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.
ITMedia Consulting 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, ITMedia Consulting 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%.
The "VOD in Europe: 2021 - 2024: The New Normal" Report, the first of ITMedia Consulting's three 2021 Multiclient Reports, is a unique study of its kind to understand the major transformations in the content and convergence industry in Europe.
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