Subscription streaming services experiences a resurgence in growth in the first quarter following a slowdown last year, according to local research outfit Mediavision.
According to the research outfit, more households are now choosing to buy SVOD subscriptions bundled with pay TV.
Household penetration for paid streaming services in Sweden increased by 9% in the first quarter, compared to the same period in 2022.
The uptick came after a period of relatively slow growth. Currently, close to 70% of households in Sweden have at least one paid streaming service, either as a stand-alone subscription or bundled with another service such as pay TV – ‘buy-through SVOD’ or B-SVOD – according to Mediavision.
The research group said that it is mainly these bundled offers that are now driving growth. This type of subscription increased by 15% in Q1 and is now found in every fourth household, said the company.
Mediavision said that households that previously did not have paid streaming services are those primarily attracted by this new type of packaging. TV operators, such as Telia and Tele2, have broadly launched streaming content alongside their traditional TV offerings. These bundles are perceived as good value which has likely had an impact on uptake the research outfit said.
“Bundled offers have developed rapidly, with an increasing number of offerings from more TV operators. We now see that these packages are also attracting brand new households, which previously did not have paid streaming services. There are many indications that this trend will continue, as it has driven both increased access and market turnover,” said Marie Nilsson, CEO at Mediavision.
Source: https://www.digitaltveurope.com/2023/04/26/svod-rebounds-in-sweden-boosted-by-bundled-offerings/