The annual IBC convention in Amsterdam is cancelled this year, which is hardly surprising. We look forward to working with clients on alternative marketing and communications strategies.
While volumes of viewing of broadcast television and associated online services have risen as a result of coronavirus restrictions, over half of households now have access to subscription video services. We can see that the apparently relentless rise of Netflix and Amazon is slowly displacing primetime television viewing in the United Kingdom.
The online video subscription market is flourishing. Annual global revenues are forecast to be over $60 billion in 2020, rising to almost $100 billion in 2025. Digital TV Research estimates that services supported by advertising will be worth a further $26 billion in 2020 and double that in 2025. Adding income from rental and electronic sales, total worldwide revenues from online television and movies are expected to rise from $100 billion to $167 billion, with 40% of that coming from the United States.