Global streaming services surge by one-third
More than 700 services launch in four years, report reveals
The number of international streaming services surged 32% in the 2017-2020 period to surpass 3,000, according to a report.
Distributor Drive’s New Buyers Report revealed 745 VoD services launched over those four years in the US, UK and Europe, rising from 2,270 to 3,015.
While new global streaming services such as Disney+ and HBO Max have captured most headlines, the report – compiled by WorkShare Consulting – highlights a wider emerging opportunity for the UK’s distribution community.
As such, the report shows international revenues growth among UK production companies is outstripping sales made domestically.
In 2013, international made up around 17%, or £500m, of revenues. This had grown to 39% by the end of 2019 to reach £1.6bn – an increase of 229%. Across the same period domestic growth was just 16%.
The report was ordered by Lila Hurst and Ben Barrett, joint managing directors of UK distributor Drive. “We commissioned this report based on our own recent experience of the dramatic rise in VoD revenue to the business,” they said in a statement.
“Unsurprisingly, we’ve seen an ever-increasing rise in VoD growth over the past three years, and to date this shows no signs of slowing with our 2021 VoD revenues already 50% over our 2020 figures, and so on track to double by year end.”
The report also revealed 40% of commissions from new streamers such as Apple TV+, HBO Max, Disney+ and Peacock were for factual shows.
The authors suggested this provided a “massive boost” to the unscripted sector due to the production halt in scripted during large parts of last year.
“Domestic growth has largely stagnated for the UK production sector and it’s clear that many new buyers – of which many more may have launched during the pandemic itself – provide UK producers, particularly in the factual space, more opportunities than ever to create vital international revenue streams,” said Hurst and Barrett.
WorkShare’s data was gathered from a combination of company accounts, third-party sources and analysis.
Published on www.broadcastnow.co.uk on 24-06-2021 by Jesse Whitlock
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