The VoD ecosystem brings huge benefits for the consumers, with an ever-increasing supply of content. With Nordic streaming consumers having access to more than 15 years’ worth of content, it is safe to say that supply has never been greater.
Mediavision’s latest analysis of the Nordic streaming market shows that consumers in the region have an unprecedented supply of content to choose from.
Focusing on the 18 most popular streaming services, the total available content amounts 135,000 hours of content – roughly translated into 15 years of constant viewing. In specific titles, this translates to 22,000 (including SVoD, AVoD & Public Service). Mediavision believes there are several reasons to believe the figure will continue to rise.
For now, there are no signs of saturation when it comes to content production, reports Mediavision. Recently, Netflix announced that it will spend $17 billion on content in 2021 – a notable increase on the 2020 budget of $12 billion. And Netflix is not alone. Disney declared that the company expects to spend $14-16 billion on streaming content across Disney+, Hulu and ESPN Plus in total over the next 4 years, with $8-9 billion earmarked exclusively for Disney+ content.
In the Nordics, local players are also ramping up content production. For example, NENT has set out the goal to premiere at least 40 Viaplay originals in 2021, and Discovery+ recently announced sequels to both Mäklarna, the documentary on the Estonia disaster, the new series Dumpad, and a remake of the show Mullvaden. Telia (Cmore/MTV/TV4 Play), TV2 Norway and TV2 Denmark have also expressed similar ambitions.
But an endless array of choices could also cause ‘stress’. Netflix has taken measures to reduce this with the introduction of its ‘Play Something’ feature. It remains to be seen if it reduces consumer indecisiveness.