According to Dataxis research, Denmark, Finland, Norway and Sweden, collectively known as the Nordic region, leads the SVOD market in Europe. The region represented almost 20% of all SVOD subscriptions at the end of last year.
In the last quarter of 2016, the number of SVOD Nordic subscribers was almost equal to the number of subscriptions in Germany and Italy. Possible reasons are that households in the Nordic region often subscribe to more than one SVOD service and the churn rate is low.
Dataxis estimates that the ARPU per service in the region, was around $10.6 in the last quarter of 2016. Netflix costs $12.7 in Denmark and $10.7 in France, consequently, there is a higher SVOD spending per person in the Nordic region than in the rest of Europe. The total customer spending on SVOD in the region reached almost $848.2 million in 2016.
Viaplay, HBO Nordic, C More and Netflix are the major services in the region with Netflix accounting for almost half of the market.