Late last week, in its’ Q4 report, Netflix hit another record-breaking number of new subscribers. Even though earnings were slightly lower than expected, many other KPI’s that were communicated are pointing at a strong overall position. For example, according to Netflix own figures it now accounts for 10% of all daily viewing time on TV screens in the US. Mediavision can confirm that in the Nordics, Netflix share of viewing is significant.
The transition from traditional pay TV to subscription-based streaming services (SVOD) continues, globally as well as in the Nordics. In its Q4 report NFLX confirms its market leading position by adding 8.84 million new paying subscribers. Revenues were weaker than expected, but Netflix also announced prices will increase, which will have a positive effect on turnover. Furthermore, and perhaps more interesting, is that Netflix now claims a 10% share of total viewing time on TV screens in the US. Traditionally, premium pay has been about retaining subscribers. Nowadays, usage is key. Consumers are just a click away from any competing service and they do not stick around if they don’t get the content that they want. Hence – viewing time is a very interesting figure.
Let’s take a look at how the Nordics stack up against the US. Mediavision’s analysis count the Nordic average viewing time (streaming + traditional TV) to about 137 minutes per day (fall 2018). Out of this, streaming viewing make up approximately 40%. Netflix share of average total viewing time in the Nordics sums up to 11%.
As for the credibility of Netflix US figures, it’s worth mentioning that Netflix itself is the only source. Netflix share-of-viewing is high, not only vis-à-vis other streaming services, but also in relation to traditional broadcasters. Though there still may be potential for growth, Netflix will be facing new challenges. Looking forward the streaming market is about to get a whole lot more crowded as several actors are about to launch. Disney and WarnerMedia will enter during 2019 while NBC Universal announced the launch of a streaming service in 2020.
Netflix will (as rumored) see a good chunk of content stripped away in conjunction with its rights-owners launching their own services. While it may be far-fetched to say that Netflix is in trouble, the market is to become even more competitive – and content to become even more king in the battle for eyeballs.
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Kanskje var 2018 det «siste» ordentlig store tv-året for tradisjonelt tv-konsum. Et par skikkelig publikumsmagneter av noen arrangementer, vinter-OL og fotball-VM bidro sterkt til dette.
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