While the COVID-19 pandemic has significantly affected the pay-TV and OTT video markets globally, there’s been a discernible growth in Central and Eastern Europe given the better access to 5G technology and the openness of users to stack multiple content services for their pleasure. Historically, Europeans have spent less time in front of the TV than their North American counterparts have. That’s changing, thanks to the popularity of OTT and shifting media trends in the region.
According to Research & Markets, the net retail revenue for European pay-TV operators will grow by EUR3.3 billion between 2020 and 2025, while for third-party OTT providers are slated to grow to EUR15.2 billion. It’s no wonder then that leading Broadcasters in the region are embracing OTT to digitally transform their business in 2021 & beyond.
The current battle for the direct-to-consumer market share between international players like Netflix, Disney+, Amazon Prime etc. and local players (e.g. TIM Vision, maxdome, CanalPlay Infinity) has created a highly competitive SVOD market in Europe today. International players bring popular movies & TV shows to the European market and command strong viewership. But it is the local TV Broadcasters & Publishers that gain the upper hand by offering culturally-relevant and native-language content. Not to mention vintage content that has nostalgia attached to it.
As demand for this locally produced and on-demand regional content has increased in Western Europe, local TV broadcasters have been offering their own streaming platforms and, in an effort to compete with the major multinational players, have also been joining forces to form new local video streaming services. Salto.fr — a joint venture of three leading French broadcasting services is delivering an unmatched streaming service to audiences. Similarly, in Spain, Loves TV is a collaboration between several content providers.
This phenomena of embracing digital is not just limited to traditional Broadcasters. Niche content creators like Media Houses, Influencers, Sports Clubs, Educational Institutes & Universities, Kids Content Providers, etc. are creating their own end-to-end OTT streaming apps to engage with their unique sets of audiences.
But as we write this in May 2021, there’s no robust and behemoth competitor that can stand toe-to-toe with the likes of Netflix or deliver a seamless end-to-end OTT video streaming experience to its European viewers. The good thing is that the SVOD market is not like other online markets that have a ‘winner take all’ mentality — an opportunity to create your niche starting today.
There are a lot of brands that are embracing digital transformation to meet gaps in the market. Will you be left behind or will you be the moniker that other brands look up to? Not sure where to start? Enveu can help you right from strategy to planning & delivery of a highly engaging & revenue-generating digital stream for your business. Let’s chat!