Swedish households have thrown aside fears over the Cost of Living with another record quarter for the paid streaming market.
Analysis by the Stockholm-based Mediavision shows household penetration for services, such as Viaplay, C More or Netflix, reached 61% in the second quarter of 2022. This represents a significant increase of 5% when compared to the same period in 2021.
The number of subscriptions held by a single household, or stacking, now stands at an average of 2.2 services.
This means that 600,000 new streaming subscriptions have been added since the same period last year, which is a new record. The Swedish paid streaming market is now approaching 6 million streaming subscriptions.
“Contrary to what many gloomy headlines have warned about in recent times, Mediavision’s analysis shows that households value their streaming subscriptions highly. They don’t seem to be prepared to cut back on that expenditure at the moment,” comments Marie Nilsson, CEO at Mediavision.
Mediavision has also compared how Swedish households acted in previous periods of economic turmoil. During the financial crisis of 2008–2009, households continued to pay for traditional pay-TV – streaming services were in their infancy – and the number of paying households increased, as did average household expenditure, though not by much.