The bundling of SVOD services by telcos in Finland has led the Nordic country to lead the region in SVOD growth.
Consultancy Mediavision says the share of households that have this type of streaming service is higher in Denmark, Norway, and Sweden. Average household spend on TV and streaming is noticeably lower in Finland; €32 per month compared to an average of €50 in the entire Nordic region.
During the spring, the number of subscribing SVOD households has passed 1.5 million, corresponding to a penetration of 6%.
This equals an annual growth of 8% in subscribing households. As in the other Nordic countries, the growth can largely be attributed to the packaging of both traditional TV and streaming services by telecom operators. The number of households that hold a bundled streaming subscription has almost doubled in a year. Close to 400 000 households subscribe to a bundled streaming service in Finland, spring 2023.
“Penetration as well as household spend on streaming is growing as fast in Finland as in the rest of the Nordic countries. But overall, Finland is still behind the rest of the Nordic countries, following a historically weaker pay TV market,” comments Fredrik Liljeqvist at Mediavision. “The recent growth is to a high degree explained by the bundling of different media and access packages, creating a “1+1 = 3” offering to the households.”
Mediavision believes that this will be one of the main routes forward, as the market moves towards maturity and new subscribers are increasingly hard to come by.
