SVOD which stands for subscription-video-on-demand is one of the most popular ways of watching TV by digital means these days. Television is no longer solely being viewed on a traditional television set. TV shows and movies are now being digitally streamed and consumers are paying a handful of major SVOD service providers to access content.
Some of the biggest names when it comes to these service providers include Netflix, Amazon Prime Instant Video and Hulu. By 2020, digital television and video content as a sector is set to be worth $42 billion so this is a very lucrative area that these providers are capitalizing on.
Consumers are driving the demand for these services and this is evident when we know that more than one in two consumers say they watch streamed and on-demand content on a daily basis. Many, especially millennials, say they cannot find anything to watch on traditional TV on a frequent basis and so they are signing up to these services.
For a more in-depth look at the increase in digital TV and the trends surrounding it, have a look at the below infographic which has been put together by Frame Your TV.
- Infographic submitted by Drew exclusively for kwentology.com.
- Please, do not use without permission.