Surge in OTT video pulling down pay TV revenues in Singapore
Monday, March 22nd, 2021
Surge in OTT video services to pull down Singapore pay-TV revenues through 2025, forecasts GlobalData
Surge in the adoption of OTT video services in Singapore will pull down the overall pay-TV service revenues by 1.45% CAGR between 2020 and 2025, says GlobalData, a leading data analytics company.
An analysis of GlobalData’s Singapore pay-TV Forecast Pack reveals that pay-TV household penetration will drop by more than five percentage points from 39.3% in 2020 to 33.8% in 2025. Comparatively, pay-TV household penetration in the overall Asia-Pacific (APAC) region will increase from 74.8% to 75.6% during the forecast period.
Following StarHub’s successful migration of its cable TV subscribers to IPTV services in 2019, IPTV now represents the only platform in the pay-TV services market in Singapore. The overall IPTV subscriptions will however decline at a 2% CAGR over the forecast period, reaching 0.63 million in 2025. This is primarily due to the growing adoption of OTT-based video services such as Netflix and Amazon Prime.
Singtel will remain the leading player in Singapore’s pay-TV services market through the forecast period supported by its discounted IPTV plans.
Sree Venkatesh, Senior Analyst of Telecoms Market Data and Intelligence at GlobalData, says: “With the increasing shift in TV viewership from traditional platforms to OTT video services, the pay-TV services market in Singapore is bound to decline further through the forecast period and operators have no choice but to offer services at discounted prices to stay relevant in the market.”
Links: GlobalData
Latest News
- Conviva data shows double digit streaming growth worldwide
- Nielsen deduplicates audiences across Smart TV and streaming providers
- 605 extends agreement to use VIZIO ACR data
- Pluto TV launches in the Nordics
- U.S. home entertainment spending up 10.9% to $8.7 billion in 1Q 2022
- Major U.S. pay TV providers lost 1,956,000 subscribers in 1Q 2022