Online video will take it all
I’ve been meaning to write a post here to comment in general about some of the amazing SVOD series of 2020 so far - such as HBO’s Lovecraft County, Peacock’s Brave New World, Showtime’s The Good Lord Bird, Netflix’s Grand Army High School and countless others that I’ve watched and loved so far this year, but the truth is that I'm struggling to remember all the amazing shows I've watched! But the idea was compare the 2020 slate to the no-less amazing slate last year (remember Chernobyl, Succession, Westworld 3?) and then I'd discuss how online video has become totally irresistible for fans of drama.
Inevitably, I would use this as an excuse to highlight some of the key trends we at Omdia are seeing regarding #onlinevideo and #paytv, not just because of COVID but partly so. But truth be told, I haven’t had the time to do all this, so instead I’ll just share this chart.
What does this chart illustrate? Firstly, global online video subscriptions are now dominating the greater TV and video world, but most of you will already know that (I hope!!). Less known, for all the talk about SVOD being a low ARPU product and arguably less valuable to the industry than cable TV, global online video subscription revenue is now projected to overtake cable TV by the end of this year.
Yes, it is true that the combined total of pay-TV revenue remains larger than online video, but that will change, and change will come very fast.
Hope this was interesting - have a great weekend everyone, and remember to stay safe! :)