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20,000 foot view: The US continues to dominate global video trends as the world’s most valuable online video market. The video audience continues to experience strong growth fueled by a combination of increased technological sophistication of the addressable market and increased engagement of existing users. In tandem with these trends Subscription Video On Demand (SVOD) penetration is on the cusp of becoming a mainstream consumer activity with of US consumers now subscribing. The US video market will experience further strong growth as it increasingly eats into linear TV.
Key of US consumers are SVOD usersUS online video users will grow at a CAGR of between 2016 and 2020The US is the world’s most valuable online video market with revenues of billion for 2016 There were SVOD services in the US in June 2016 accounting for million subscribersThe US online video market is a horse race, with Amazon Prime, Hulu Plus and Netflix accounting for of all subscribers with million subscribersTraditional pay-TV subscribers declined by just between June 2015 and June 2016; SVOD grew by millionThis amounted to a net gain of million across both segments - it is time to stop thinking about SVOD and traditional pay-TV as separate The Netflix/Amazon duopoly allows scope for niche services to thriveHowever, currently niche services account for of all services but just of subscribersSports SVOD services account for of all services but of subscribers SVOD skews female more females than males subscribe, representing of all US SVOD users)SVOD is opening pay-TV to younger audiences, with SVOD penetration peaking at among year olds.
Companies and services mentioned in this report: Amazon Prime, Hulu Plus, Netflix, Spotify, iQYi, Facebook, YouTube, HBO Now, WWE, Youtube Red, Google Chromecast, Roku