Key regions: Asia, United Kingdom, United States, South Korea, Germany
The TV & Video market in Australia has been experiencing significant growth in recent years, driven by changing customer preferences and technological advancements. Customer preferences in Australia have shifted towards on-demand streaming services and online video platforms.
This trend can be attributed to the convenience and flexibility offered by these services, allowing viewers to watch their favorite shows and movies at their own convenience. Additionally, the availability of a wide range of content on these platforms has also contributed to their popularity among Australian consumers. One of the key trends in the TV & Video market in Australia is the increasing popularity of subscription video on-demand (SVOD) services.
Platforms such as Netflix, Stan, and Amazon Prime Video have gained a strong foothold in the Australian market, offering a vast library of movies and TV shows. The convenience of these services, coupled with the ability to stream content on multiple devices, has led to a surge in their adoption among Australian consumers. Another trend in the market is the growing demand for smart TVs.
These televisions are equipped with internet connectivity and built-in streaming apps, allowing users to access online content directly on their TV screens. The increasing availability and affordability of smart TVs have made them a popular choice among Australian consumers, further driving the growth of the TV & Video market. Local special circumstances in Australia, such as the vast geography and dispersed population, have also played a role in shaping the TV & Video market.
Traditional broadcast television has faced challenges in reaching remote areas, leading to a greater reliance on online streaming services. Additionally, the high cost of cable and satellite TV subscriptions has made streaming services a more affordable option for many Australians. Underlying macroeconomic factors have also contributed to the growth of the TV & Video market in Australia.
The country's strong economy and high disposable income levels have allowed consumers to spend more on entertainment and leisure activities, including TV and video streaming services. Furthermore, the increasing availability of high-speed internet and advancements in technology have made it easier for Australians to access online content, driving the demand for TV and video streaming services. In conclusion, the TV & Video market in Australia has experienced significant growth due to changing customer preferences, technological advancements, local special circumstances, and underlying macroeconomic factors.
The increasing popularity of on-demand streaming services, the adoption of smart TVs, and the availability of high-speed internet have all contributed to the growth of the market. As these trends continue to evolve, the TV & Video market in Australia is expected to further expand in the coming years.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.Modeling approach / Segment size:
The segment size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant segment. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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