According to Digital TV Research, over-the-top (OTT) subscription video on demand (SVOD) subscriptions are forecast to reach 546 million by 2022, double the 263 million recorded by end-2016.
Subscriptions in the Asia-Pacific (APAC) region are expected to overtake North America in 2017. APAC is expected to account for 43% of global SVOD subs by 2022, with North America supplying 31%. The proportions were 35% and 43% respectively in 2016.
Simon Murray, principal analyst at Digital TV Research, said: "Netflix's dominance of global SVOD is falling - from a third the 2016 global subscribers to a quarter by 2022. However, the company will enjoy considerable growth - by adding 28 million subs between 2017 and 2022."
Netflix's share of global SVOD revenues is expected to fall from 45% in 2017 to 40% by 2022. Despite the falling market shares, Netflix's revenues are expected to increase by 55% between 2017 and 2022. SVOD revenues are expected to more than double from $17 billion in 2016 to $41 billion in 2022.
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