Australia SVoD service revenue to grow at 5.6% CAGR over 2023-2028 – GlobalData

Netflix will lead the Australia's SVoD market and will account for largest share of subscriptions through the forecast period. #pressrelease

May 31, 2024

1 Min Read

The subscription video on demand (SVoD) service revenue in Australia is expected to increase at a compound annual growth rate (CAGR) of 5.6% from $2.2 billion in 2023 to $3 billion by 2028, driven by a healthy growth in its subscribers, and steady rise in the average monthly revenue per unique SVoD household, according to GlobalData, a leading data and analytics company.

GlobalData's latest Australia Subscription Video on Demand (SVoD) Forecast (Q1 2024), reveals that the SVoD subscriptions in the country will increase at a CAGR of 5.3% over the forecast period, in line with the continued migration of the traditional pay-TV viewers to on-demand video services.

Srikanth Vaidya, Telecom Analyst at GlobalData, comments: "The widespread availability of high-speed broadband services in the country, and an increase in fiber broadband household penetration will also facilitate the widespread adoption of SVoD services in Australia."

The monthly average revenue per unique SVoD household in Australia is expected to grow from $24.2 in 2023 to $29.5 by 2028 driven by premium plans offered by operators with mutli-screen options, superior resolution and ad-free content.

Netflix will lead the Australia’s SVoD market and will account for largest share of subscriptions through the forecast period.

Disney+ and Amazon are the other global SVoD platforms that are quite popular in the country. Unlike most of its competitors, Disney+ has a single pricing plan with all the features available in one subscription price.

Read the full press release here.

GlobalData

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like