While cord cutting is still finding the most popularity in the US, countries around the world are starting to trend toward streaming and away from pay TV. A Strategy Analytics report is offering some insight about how cord cutting is growing in Europe.
The Strategy Analytics European Pay TV Index shows that overall, pay TV subscriptions throughout Europe continued to rise slightly by 1.3% to 128.5 million in 2018, but that growth is down significantly from past years. Countries with a notable increase in pay TV subscriptions included Spain, Russia, France, and Poland.
The UK specifically saw a decline in pay TV subscriptions, down by 424,000 households in 2018. Pay TV numbers have also declined in Denmark, Switzerland, and Germany. Strategy Analytics suggested that pay-TV subscriptions will start to drop in other areas around Europe within the next couple of years.
“We have seen the cord-cutting trend for several years in the US, where the pay-TV business is more mature,” said Michael Goodman, director, TV and media strategies at Strategy Analytics. “Now it is starting to hit major markets in Europe, and this spells trouble for pay TV operators which cannot adapt to the needs of today’s viewers. The threat of falling subscriber revenues and stronger OTT rivals will also increase pressure from investors for further consolidation across the industry.”
Europe has been one of the last bright spots in the world of traditional pay-TV. Now that it is starting to see the bight of cord cutting more TV studios will now have to address a new front in the fight against cord cutting.
Source: Rapid TV News
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