Global SVOD revenues will reach $127 billion by 2029; up from $107 billion in 2023. The US and China will account for half of the 2029 total. The US will add $2 billion of the $20 billion extra SVOD revenues between 2023 and 2029, with Brazil, Germany, Japan and South Korea each up by $1 billion.

The six big US-based platforms will add $12 billion in SVOD revenues between 2023 and 2029 to take their combined total to $72 billion. Netflix will remain the SVOD revenue winner, with $34 billion expected by 2029 – more than Disney+, HBO Max and Paramount+ combined.

Simon Murray, Principal Analyst at Digital TV Research, said: “The key metric for the main SVOD platforms has moved away from subscriber growth to profitability.”