The main trends and the perspectives of the European content market are still at the center of the new ITMedia Consulting report "Video on Demand in Europe: 2020-2023 - Growing in uncertain times".
The relentless development of video streaming in light of the digital transformations has dramatically increased during the COVID-19 lockdown. ITMedia Consulting estimates this trend would continue in the next months making 2020 a watershed in the transformation of the television and video landscape. Driven by SVOD subscription services, from the leader Netflix and the main contenders Amazon Prime Video and the new services like Disney+, revenues from VOD (SVOD+TVOD) according to ITMedia Consulting will still grow at a double digital rate, exceeding € 12 billion of revenues in 2023.
However, as a direct consequence of the lockdown, the production of most films and TV shows is temporarily halted, creating a concern for distributors' stocks. Across the media landscape, advertising is another of the victims of global closure. In 2020, the AVOD model seemed to be one of the biggest growth areas, but COVID-19 curbed advertising costs and limit dramatically the possibility to expand.
In the SVOD environment, Disney, which launched its new Disney+ premium service, and Netflix, were undoubtedly in the main beneficiaries during the lockdown period. In an increasingly crowded and highly competitive context, Netflix is by far the market leader globally and in Western Europe. But, in the next few years, this supremacy will be challenged by newcomers with solid experience in the content arena, great economic potential and increasingly exclusive access to premium content.
The Report "Video on Demand in Europe: 2020-2023" once again proves to be an indispensable tool for understanding and interpreting through the data and information provided and exclusive including the VOD market in Europe and the great innovations in the field of content and digital media.
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