It’s no secret that Netflix is eyeing big-time growth in Europe. Now a report from Rethink Technology Research suggests that Netflix’s European growth will be even larger than expected.
The report is called The Rise of Paid OTT in Europe, and it’s full of good news for Netflix – as well as for some other streaming services, including free SVOD (streaming video on demand) apps.
Forecasts for Netflix’s growth on the continent were “way too low,” the report argues. Rethink predicts that OTT subscriptions in Europe will hit a total value of €8.1 billion – or $9.8 billion – by 2021. That would be a €3.9 billion ($4.76 billion) increase over the next five years.
And Netflix would be getting the lion’s share of this cash. Netflix is the biggest driver and biggest beneficiary of Europe’s OTT growth, and Rethink predicts a figure of 45 million subscribers for Netflix in 2021. That’s a more than 70% share of the 62 million total OTT subscribers Rethink is expecting by that year.
Free SVOD services are also very popular in Europe, and Rethink doesn’t expect that to change. In fact, the firm believes that more Europeans than Americans will be using free streaming services by 2021. Rethink predicts a total of just over 100 million free SVOD subs.
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