IHS Markit: Online Video Growth Will Drive Western Europe Consumer Spending to €8.7 billion by 2020
LONDON(17 May 2017)
IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, expects total consumer spending on home video in Western Europe to increase with a CAGR of 3.5 percent per year, to reach €8.7 billion by 2020. The market demonstrated confident expansion over 2016 at 2.6 percent, reaching €7.9 billion. The home video sector is defined as being composed of physical videodisc, paid-for online video (electronic sell-through, or EST, and iVideo-on-Demand, or iVoD) and subscription online video.
The UK, Germany and France continue to be the three biggest markets for home video entertainment. Combined, these countries accounted for exactly three-quarters (75 percent) of transactional consumer spending on home entertainment video in 2016, and about half (52 percent) of subscription video spending. Subscription spending will continue to monetize markets where consumers historically demonstrate lower propensity to spend on transactional video.
IHS Markit’s forecasts state that physical disc spending will continue to decline, dropping by 47 percent over the next four years, to €1.96 billion. The online transactional video market will see moderate growth, being valued at €1.2 billion by 2020, a 23 percent increase. The spending on subscription online video will reach €5.5 billion in 2020, a 78 percent increase.
IHS Markit Media & Advertising
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IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and expertise for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world's leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.