According to Netflix, the streaming service acquired 15 million new subscribers in Q1 2020, where of 7 million in EMEA. Netflix now has almost 183 million subscribers on a global basis and 52 million of those in EMEA. Growth is strongest in APAC (+22% QoQ) and EMEA (+13% QoQ). However, figures from Mediavision’s Q1 analysis of the Swedish market for TV & streaming tell a different story.
According to Mediavision’s latest data Netflix’s penetration among Swedish households has shown no substantial growth in 2019 – and the trend continues in Q1 2020. Approximately 2.1 million Swedish households had access to Netflix in Q1 2020 , which is more or less the same amount as in Q1 2019. Whereas Netflix’s global subscriber base grows, the Swedish market shows clear signs of maturity. Increased stacking, which means that households take up more services, is another indication of market maturity.
Still, the corona pandemic’s effect on the Swedish video online market might be more visible in Q2. Due to lockdown and quarantine directions, streaming services could break through the current plateau. More and more subscribers are also sharing services with other households. In the soon to be released Q1 analysis, Mediavision can see that this factor is growing strongly during the last weeks of March. This means that SVOD services reach more households, though they may not get paid for it. This may very well be a breeding ground for continued growth, if the online services in the future choose to have less generous sharing rules.
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