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According to Omdia's analysis from November 2023, the number of subscription video-on-demand (SVOD) services per home has declined in a number of markets for the first time. #pressrelease
March 13, 2024
LONDON – Exclusive new data from Omdia has revealed that after more than five years of an increase in stacking behaviors, the once-dominant model is beginning to show signs of strain. According to Omdia's analysis from November 2023, the number of subscription video-on-demand (SVOD) services per home has declined in a number of markets for the first time. Simultaneously, free video stacking is still on the rise.
YouTube's continued growth as the top video service provider in key markets, has been fundamental to the growth of the sector’s lead over paid video content. This has been buoyed further by strong growth in other social video platforms and Free ad-supported television (FAST) services.
FAST services have continued their upward trajectory in the US, with key players Tubi and The Roku Channel entering the top 10 most used services on a monthly basis.
In Europe, however, broadcasters remain strong, with traditional free TV and broadcaster video on demand (BVOD) services leading.
Over the last year, Omdia research found that the average number of free video services per video user for the UK increased from 5.1 to 6.2 and in the US 6 to 7.5 services.
In the UK, free-to-air content continues to lead with BVOD services and social media platforms as the most popular services with FAST coming in as third.
The allure of social media platforms such as TikTok and Instagram Reels has reshaped how individuals consume video content. With engaging formats and vast user bases, social media services offer compelling alternatives to mainstream streaming services.
Similarly, the availability of free TV options like ITVX, BBC Player, and Channel 4 in the UK provides viewers with access to high-quality content without the burden of subscription fees.
Read the full press release here.
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