Revenues in the Nordic TV and video market are expected to reach €9.8 billion for 2023, according to Stockholm-based consultancy Mediavision.
With the market showing steady growth since 2021, following the pandemic, Mediavision estimates revenues will exceed €10 billion in 2024.
“The Nordic video market is still going strong, mainly driven by consumers’ great interest in new digital services,” comments Fredrik Liljeqvist, senior analyst at Mediavision. “Despite a weakened general economy and a feeble advertising market, revenues are increasing. The number of paid streaming subscriptions is increasing and is now approaching a total of 20 million in the Nordics. Also, for the first time, we can now see that online viewing exceeds viewing of traditional TV on a Nordic aggregated level.”
The total Nordic video market is expected to reach €9.8 billion for the full year of 2023. The total market has grown 2% annually over the past four years, excluding currency effects (fixed to 2019). If this growth rate remains, the market will surpass €10 million in 2024. The Nordic video market includes both advertising and paid subscriptions for broadcast and online, as well as cinema and public service.
Digital video services such as SVOD (subscription video on demand), TVOD (digital rental video) and AVOD (advertising-based video on demand) have all grown 10% annually over the past four years. Growth has more than compensated for the 2% annual decline in traditional broadcast TV revenues during the same period.
