There is a market that has indirect benefits in terms of growth in demand due to the restrictive measures provoked by the fight against the pandemic. Strategy Analytics researchers have corrected upwards their forecasts for the global audiovisual content market.
The new estimate that by the end of 2020, subscriptions to Netflix and similar services will reach 949 million units on a global scale, 47 million more (+ 5%) than expected before the coronavirus. In the long run, analysts are expecting 621 million subscriptions to grow between 2019 and 2025, when people who pay for a streaming video service will be 1.43 billion. In China there will be 438 million, and 342 million will register in the USA, where three out of four families will be subscribed to at least one service.
A significant factor The impact of coronavirus, both short and long term, affects future subscriptions growth, says analyst Michael Goodman. In the short term, the coronavirus will increase both subscriptions and views, as an increasing number of consumers will keep their social distance or be forced into quarantine.
In the medium to long termhowever, much will depend on the protracted pandemic and the resulting economic damage. With companies closing and people being laid off, consumers will have to make tough decisions about how to spend their money, and services like Netflix, Amazon Prime Video, Disney, however wonderful they may be, are not essential, Goodman concludes.
