Streaming video subscribers up 30% this year
Services like Netflix and Stan are on track to overtake traditional pay TV services in 2018.
Research and insights mob, Telsyte, has published some interesting statistics around Australia's adoption of streaming video-on-demand. According to Telsyte's 2017 Streaming Video-On-Demand (SVOD) Market Study (which uses interviews with service executives, mobile operators, 1,060 survey responses and financial reports from service providers), Australian SVOD subscriptions reached 3.7 million by the end of June 2017, which is a year-on-year increase of 30% when compared to last year.
Telsyte's research also found that nearly half (49%) of Australian households have either a pay TV or SVOD subscription. According to the study, 11% of households claim to have both a pay TV and a streaming subscription, which is a 38% increase on last year's results.
Of those 3.7 million SVOD subscriptions, Netflix takes the lion's share with 2.02 million Australian subscribers, Australia's own Stan comes in second with an admirable 867 thousand subscribers, and the remaining 769 thousand subscribers listed "Other" (most likely a large portion of Foxtel Now and hayu subscribers).
Telsyte predicts paid streaming subscriptions will overtake traditional pay TV subscriptions by June 2018 (right in time for Game of Thrones's eighth season).
While this is all interesting data, it's not all too surprising. Besides live events, there's not much left that expensive, traditional pay TV subscriptions offer that contemporary streaming services don't. Foxtel's traditional model has not gone quietly, but even it has slowly been improving its streaming service Foxtel Now to be more in line with services like Stan and Netflix.