Hence, in the newly concluded Q3, paid video services reached a new record level following strong growth compared to the equivalent period last year. Further, Mediavision’s analysis of the third quarter reveals that Netflix, for the first time since its launch in 2012, has lost subscribers. However, it is still the market leader.
Mediavision’s analysis concludes that in Q3, Netflix reached approximately 1.5 million paying households in Sweden, following a loss of around 110 000 subscribers compared to the same period in 2019. Given that the total market is expanding, Netflix’s market share has decreased. Recently, Netflix reported diminishing growth for Q3 in the EMEA region.
The substantial growth in the number of subscriptions in Sweden is largely explained by the fact that households now acquire a higher number of subscriptions, what is referred to as “stacking”. For the first time, SVOD households now subscribe to more than two services on average. The appetite for SVOD remains high and a lot of people express interest in acquire yet another subscription. Mediavision’s analysis points towards continued strong growth.
“The third quarter of 2020 presents an interesting development of the Swedish streaming market. For the first time ever, SVOD households subscribe to more than two services, whereas a certain loss is noted for Netflix. We believe that growth will continue, especially given the trend of increased interest as we approach the large holidays,” commented Marie Nilsson, CEO of Mediavision.