Online streaming set to overtake pay TV subscriptions in Australia
NETFLIX DOMINATES AND LEADS THE CHARGE.
WITH AN INCREASE of 30% on last year’s figures, over 3.7 million Australians are now subscribed to online video-streaming services such as Netflix and Stan. According to the survey, which was conducted by Australian market-research company Telsyte, these figures put video streaming services on track to beat out pay TV subscriptions within the year — more specifically, by June 2018.
At this stage, around half (49%) of all Australians are subscribed to either one or the other — streaming service or pay TV — but by June next year, it’s predicted the majority will have tipped in the favour of streaming services. Moreover, based on projected data, that advantage will continue to grow in the future, particularly as more customers are connected to the NBN.
Of the current video streaming services, Netflix has the lion’s share of subscribers, with 55% using its service over the competition. Stan comes in next at 24%, and the last 21% is made up of services from companies like Amazon, Foxtel and YouTube.