Streaming is still moving onward and upward in terms of popularity and revenue, and it doesn’t seem to be slowing down. A new report by Brightcove estimates SVOD services revenue will increase by nearly 30% in 2021.
“We expect that this year, SVOD revenues will increase by 29.9% to $38.15 billion,” the report states.
Netflix is still the leader when it comes to holding the largest share of the market’s revenue. The streaming giant will generate just under a third (30.8%) of all US OTT subscription revenues in this year, followed by Disney whose entities Disney+, ESPN+, and Hulu will account for 25.9%. YouTube is the third-largest market shareholder with 13.2%
Although Netflix is still the leader in market share, its 30.8% hold is down from a much larger 44% just two years ago. Newer streaming services like Disney+ and HBO Max are slowly but surely starting to eat into Netflix’s revenue.