Mediavision of Sweden has said that Netflix, along with YouTube and HBO, has been successful in the Nordics and interest in online video is again reaching new record levels across the region.
At the end of 2017, approximately 7.7 million Nordic 15-74 year olds watch online video on an average day up 15% on last year. On the other hand, traditional TV viewing has decreased approximately 7% in the same period. Most of the growth of online viewing profits global actors, as local companies continue to fall behind.
More than 50% of online viewing is with YouTube and Netflix. Global services also lead in terms of subscription video on demand (SVOD). Netflix, HBO Nordic and Amazon together account for more than four million subscribing households. Local Nordic media actors, on the other hand, only attain half of that amount. The gap between the globals and the locals has actually been increasing yearly since 2013.
Netflix’ content budget for 2017 of almost €6 billion, was approximately twice the size of all Nordic broadcast companies combined. The advantages of economies of scale make the globals’ positions hard to challenge.
As we move forward in 2018, Mediavision sees no clear signs that these dynamics will change.
