At the end of each year, Deloitte releases a variety of predictions for the upcoming year. As in years’ past, Deloitte’s Global Predictions 2018 report focused heavily on technology trends. For 2018, Deloitte predicts not only strong growth in the consumption of media overall, but a significantly large growth in the number of on-demand streaming service users.
Some estimates put the current total number of streaming video-on-demand (SVOD) subscribers at around 350 million worldwide. According to Deloitte, the number of SVOD subscriptions worldwide should hit 375 million, or only 25 million more than what may exist now.
Netflix, the leading SVOD service in the world, has over 100 million subscribers. The service now represents a vast majority of the on-demand streaming market, both in the U.S. and worldwide. Other streaming services continue to emerge to fill consumer demands. That includes niche services like Shudder, which only offers up horror films and TV shows, and CuriosityStream, which focuses on science and history documentaries.
More Users to Have Multiple On-Demand Subscriptions
Deloitte predicts individual users will also increase the number of on-demand subscriptions they own. Deloitte states that 50% of adults in developed markets will have two SVOD subscriptions in 2018. By 2022, the company predicts that number will jump to four subscriptions half of all adults.
In 2016, market research firm Gfk SE reported that 16% of U.S. streaming service users had more than one subscription. Deloitte’s prediction would mark a huge increase between 2016 and 2018, a growth no doubt aided in part by the growing number of niche services and ISP streaming service bundles.