Netflix ‘on course’ to pass 10 million subscribers in UK

Netflix is on course to pass the 10 million-subscriber mark in the UK by the end of this year, according to research by MTM.

According to MTM, some 1.1 million consumers intend to subscribe to the service by the end of this year, taking the service’s total past the 10 million subscriber mark.

MTM says that Netflix subscribers are among the most satisfied users of SVOD services in the UK with 88% claiming to be satisfied, the highest rating for any subscription TV or video service. This means that churn levels for the service are a less significant challenge than for other SVOD offerings.

According to MTM, Netflix’s integration as part of the Sky Q offering could support further growth for the SVOD service, with 200,000 current Sky Q users looking to subscribe to Netflix by the end of 2018.

MTN says that the ability to easily access Netflix’s service on the primary TV screen will likely increase Netflix’s share of overall viewing within Sky Q homes, pointing out that 31% of all cable operator Virgin Media’s homes with Tivo advanced TV set-tops currently access Netflix via their set-top box.

According to MTM’s ScreenThink market research tracker, based on a survey of over 3,000 UK online users, almost 25% of internet users say that services such as Netflix and YouTube are the first services they turn to when looking for TV or video content, rising to 39% of 16-24 year-olds.

Conversely, 54% of UK pay TV subscribers now believe that their TV service is overpriced, and 1 in 4 are thinking about cancelling their subscription.

“The most recent ScreenThink study provides a fascinating snapshot of a market in transition, demonstrating the significant impact of Netflix and other OTT video services in the UK market,” said Jon Watts, managing partner at MTM.

read more here: digitaltveurope.com

Subscription OTT Market to Grow 24% in 2018

Nearly 765 million people worldwide will use a subscription over-the-top (OTT) video service at least once per month this year, according to the latest forecast from eMarketer. This total will represent 10.2 percent of the global population and 32.1 percent of digital video viewers worldwide.

The firm expects the global subscription OTT market will grow by 24.0 percent thanks to increasing internet penetration, faster speeds and a broader shift toward online entertainment. The shift is fueled in part by streaming giants like Amazon and Netflix increasing their content spend outside the country in an effort to boost international membership. Netflix alone added 4.47 million subscribers internationally in Q2 of this year. The streaming giant has remarkable user penetration rate in countries including Norway (62 percent), Canada (56.3 percent), Denmark (54.9 percent), and Sweden (50.2 percent).

All around the world consumers are turning to OTT services as a cheaper alternative to traditional pay TV subscriptions. In the UK, for example, new data from media regulator Ofcom (per Variety) shows SVOD subscritions outnumbering those to traditional pay-TV for the first time.

read more here: thevideoink.com