The Opportunity of OTT Video Streaming in Europe
While the COVID-19 pandemic has significantly affected the pay-TV and OTT video markets globally, there’s been a discernible growth in Central and Eastern Europe given the better access to 5G technology and the openness of users to stack multiple content services for their pleasure. Historically, Europeans have spent less time in front of the TV than their North American counterparts have. That’s changing, thanks to the popularity of OTT and shifting media trends in the region.
According to Research & Markets, the net retail revenue for European pay-TV operators will grow by EUR3.3 billion between 2020 and 2025, while for third-party OTT providers are slated to grow to EUR15.2 billion. It’s no wonder then that leading Broadcasters in the region are embracing OTT to digitally transform their business in 2021 & beyond.
The current battle for the direct-to-consumer market share between international players like Netflix, Disney+, Amazon Prime etc. and local players (e.g. TIM Vision, maxdome, CanalPlay Infinity) has created a highly competitive SVOD market in Europe today. International players bring popular movies & TV shows to the European market and command strong viewership. But it is the local TV Broadcasters & Publishers that gain the upper hand by offering culturally-relevant and native-language content. Not to mention vintage content that has nostalgia attached to it.
