This, according to the latest report from Digital TV Research, will be up from $26 billion in 2021. From the additional revenues, the UK will contribute $4 billion, Germany $3 billion, France $3 billion and Italy $2 billion.
The report notes that UK is the largest OTT revenue earner in the region, with its $6 billion providing 24% of the 2021 total. The UK’s $10 billion in 2027 will represent 22% of the region’s total – so other countries will grow faster.
Commenting on the findings of the report, Simon Murray, principal analyst at Digital TV Research, said: “SVOD far exceeds any other revenue source for Western Europe. SVOD will increase by $13 billion between 2021 and 2027 to $30 billion. AVOD will add $6 billion to reach $12 billion”.
SVOD subscriptions will reach 258 million by 2027, up from 164 million by end-2021.
Four countries will provide two-thirds of the total, and Germany will overtake the UK in 2026.