Sweden: Netflix loses subs, but still market leader
October 27, 2020
During the past year, Swedish households have purchased an additional 700 000 new SVoD-subscriptions. Consequently, in the third quarter, paid video services have reached a new record level following strong growth compared to the equivalent period last year.
Furthermore, Mediavision’s analysis of the third quarter reveals that Netflix, for the first time since its launch in 2012, has lost subscribers. However, it remains the market leader.
Mediavision’s analysis concludes that in Q3, Netflix reached approximately 1.5 million paying households in Sweden, following a loss of around 110 000 subscribers compared to the same period in 2019. Given that the total market is expanding, Netflix’s market share has decreased. Recently, Netflix reported diminishing growth for Q3 in the EMEA-region (including Europe, the Middle East and Africa).
The substantial growth in number of subscriptions Sweden is largely explained by the fact that households now are now stacking services. For the first time, SVoD households now subscribe to more than two services on average. The appetite for SVoD remains high and a lot of people express interest in acquiring yet another subscription. Mediavision’s analysis points towards continued strong growth.
“The third quarter of 2020 presents an interesting development of the Swedish streaming market. For the first time ever, SVoD-households subscribe to more than 2 services, whereas a certain loss is noted for Netflix. We believe that growth will continue, especially given the trend of increased interest as we approach the large holidays,” commented Marie Nilsson, CEO of Mediavision.