TV & Video - Nordics | Statista Market Forecast

In the Nordics, revenue in the TV & Video market market is projected to reach US$9.04bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.25%, resulting in a projected market volume of US$10.11bn by 2029.
The largest market in this market is Traditional TV & Home Video, with a market volume of US$5.64bn in 2024.
In global comparison, most revenue will be generated the United States, which is projected to reach US$280.30bn in 2024.
In the Nordics' TV & Video market market, the number of users is expected to amount to 24.2m users by 2029.
User penetration in the TV & Video market market in the Nordics is expected to be at 83.5% in 2024.
The average revenue per user (ARPU) in this region is projected to amount to US$385.90 in 2024.
In the Nordics, the TV & Video market is increasingly driven by streaming services, reflecting a strong consumer preference for on-demand content over traditional broadcasting.

Definition:

The TV & Video market encompasses the diverse landscape of audiovisual content delivery, including traditional broadcast television, streaming services, and digital platforms. This market offers a vast array of content, from TV shows and movies to live sports events and news broadcasts, catering to a wide range of viewer interests. As technology evolves, so too does the way we consume video content, with traditional linear TV being complemented by on-demand and over-the-top (OTT) streaming options. This evolution reflects changing consumer preferences and the increasing accessibility of internet-connected devices, providing viewers with greater flexibility and choice in how they access and enjoy their favorite programs.

Structure:

The TV & Video market encompasses both Traditional TV & Home Video and OTT Video. Traditional TV & Home Video involves scheduled programming and physical media distribution like DVDs. OTT Video delivers content over the internet, offering on-demand access to a wide range of options.

Additional Information:

The market comprises revenues, ad spendings, viewers, average revenue per user, and penetration rates. Revenues are generated through purchases and subscription payments. Key players in the market are companies, such as The Walt Disney Company, Netflix, or Amazon.

Pay-TV subscriptions such as DirectTV, AT&T TV, and Sky
Over-the-top services such as Netflix, Hulu, iTunes, and Pluto.tv
Physical home video such as DVD & Blu-ray
Traditional TV advertising such as commercial breaks
Public TV licence fees such as BBC TV License in the UK and the Rundfunkbeitrag in Germany

Movie theater ticket sales such as from AMC Theatres
Public license fees collected in the form of a tax such as income tax in the Nordic countries

The TV & Video market in Nordics has been experiencing significant growth in recent years, driven by changing customer preferences and the availability of new technologies. Customer preferences in the Nordics have shifted towards on-demand and streaming services, as consumers seek greater flexibility and convenience in their viewing habits. This trend is reflected in the increasing popularity of subscription video on demand (SVOD) platforms such as Netflix and Viaplay, which offer a wide range of content that can be accessed anytime and anywhere. Additionally, there has been a rise in the consumption of user-generated content on platforms like YouTube, as viewers are attracted to the authenticity and relatability of these videos. One of the key trends in the TV & Video market in the Nordics is the growth of connected TV devices. Smart TVs, streaming devices, and gaming consoles have become increasingly popular, allowing consumers to access streaming services directly on their televisions. This has led to a decline in traditional TV viewing, as viewers have more options to choose from and can personalize their viewing experience. Furthermore, the increasing availability of high-speed internet connections has facilitated the adoption of these devices, enabling seamless streaming of content. Another trend in the market is the proliferation of local streaming services. While international platforms like Netflix and Amazon Prime Video dominate the global market, local players have gained traction in the Nordics by offering region-specific content and catering to the preferences of local audiences. These services often include a mix of local and international content, providing a unique viewing experience for consumers in the region. Local special circumstances in the Nordics also contribute to the development of the TV & Video market. The region has a high level of internet penetration and digital literacy, making it easier for consumers to access and consume online content. Additionally, the strong emphasis on quality and innovation in the Nordics has led to the production of high-quality TV shows and films, attracting both domestic and international viewers. Underlying macroeconomic factors such as the strong economy and high disposable income levels in the Nordics also play a role in the growth of the TV & Video market. Consumers in the region have the financial means to invest in premium streaming services and connected TV devices, driving the demand for these products and services. In conclusion, the TV & Video market in the Nordics is experiencing growth due to changing customer preferences, the availability of new technologies, and local special circumstances. The shift towards on-demand and streaming services, the popularity of connected TV devices, the rise of local streaming services, and the region's strong economy are all contributing factors to the development of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Segment size:

The segment size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant segment. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.