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Disney’s upcoming Disney+ streaming service will reach 82 million subscribers worldwide by 2024, according to a forecast from Digital TV Research.
“Netflix’s dominance of global SVOD is falling, although the company will add 79 million subs between 2018 and 2024 to take its total to 219 million,” it said in its report. And Simon Murray, principal analyst at Digital TV Research, highlighted: “This comes despite the onslaught from new global players.” Netflix has invested in local productions in various parts of the world as foreign markets have become a key driver of user growth for the streaming giant.
Amazon Prime will in 2024 rank second with 127 million subscribers, with Apple reaching 13 million, the firm projected.
In terms of SVOD revenue though, Disney will rank ahead of Amazon, according to its forecast. Netflix’s revenue will more than double from $15 billion in 2018 to $35 billion in 2024 despite subscriptions only climbing by 57 percent, predicts Digital TV Research. It sees Disney+ generating $7.4 billion in revenue by 2024, ahead of Amazon’s estimated $6.0 billion.
Netflix will account for 23 percent of the global SVOD subscriber total, Amazon Prime for 13 percent, Disney+ for 8 percent and Apple for 1 percent, according to the report. “These four companies will control 45 percent of the global total,” said Digital TV Research. “This leaves a substantial market for others, including 30 percent of global subscriptions in China where none of the four global players will operate.”
Overall, global SVOD subscriptions will nearly double in the coming years, predicts Digital TV Research. “The number of gross SVOD subscriptions will increase by 91 percent, or 462 million, between 2018 and 2024 to reach 970 million,” the firm said. That includes an estimated increase of 124 million this year alone.
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