The total UK digital video market grew by an impressive 55% over 2014 to reach over £600 million, almost 4 times the level of 2011, according to a new report from Futuresource Consulting.
Meanwhile the SVOD sector in the UK goes from strength to strength with three key players, Netflix, Amazon Prime Instant Video and Now TV all continuing to grow impressively. At the end of 2014 there were over 7 million individual subscriptions, this number is set to almost double to 13.6 million by 2019, with associated value crossing the £1 billion threshold in 2019.
2014 was a breakthrough year for EST in particular, as new and evolving services helped reach new customers. The total digital video market in 2015 is expected to continue its momentum, with anticipated growth of 40%, reaching £870 million
“Although SVoD more than doubled in 2014 and now accounts for over half of total digital video at £350 million, nearly 30% growth in transactional digital video in 2014 was perhaps more impressive given the disappointing performance in 2013 and 2012,” says David Sidebottom, Senior Marketing Analyst at Futuresource Consulting.