According to a recent report released by OnlyAccounts.io, a British subscription service provider, the global revenue from subscription-based streaming media (SVOD) is expected to reach $95.3 billion in 2023. This represents an 18% year-on-year increase from the previous year. The report also projects that by 2027, the revenue will soar to $137 billion, showing an impressive 73% increase.
The Market revenue will reach $137 billion by the year 2027
The rise of subscription-based streaming media has been phenomenal in recent years. In 2017, there were approximately 610 million subscriptions worldwide, a number that grew to 1.16 billion by 2022. This trend is expected to continue, with streaming media surpassing other segments of the media and entertainment market.
Statista Market Insights confirms this growth, reporting that global revenue from subscription-based streaming has nearly tripled since 2017 and is projected to exceed $80 billion by 2022. In contrast, physical sales have declined by nearly 30%, and digital pay-per-views and paid downloads have shown slower growth compared to streaming services such as Netflix, Prime Video and Hulu.
Interestingly, Statista reveals that nearly 65% of SVOD’s total revenue comes from just three countries. The United States, the largest SVOD market globally, is expected to generate $39.2 billion in revenue this year. It is projected to continue growing at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2027, reaching an estimated market size of $54.6 billion.
China follows as the second-largest market, experiencing an average growth rate of 10.1% during this period. SVOD revenue in China is expected to increase from $19.4 billion to $28.5 billion. The United Kingdom ranks third, with revenues approaching $5.5 billion by 2027 and a four-year CAGR of 8.9%.
The surge in subscription-based streaming media is reshaping the global media landscape. With billions of dollars in revenue and millions of subscribers, the industry is poised for continued growth in the coming years. As consumer preferences shift towards on-demand content, subscription-based streaming is expected to dominate the market, leaving traditional media formats in its wake.
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