$4.4bn is what the online film industry will be worth within five years. Online movie audience data has been trending upwards steeply and now Global Industry Analysts are forecasting a boom in paid subscriptions and paid downloads. Here’s why…
A Global Industry Analysts study forecast the global online movies market will be worth $4.4bn by 2017, representing one of the fastest-growing digital paid content segments.
Prime growth factors include rising Internet penetration, increased prevalence of TV and DVD players, and higher digital downloads.
In addition, factors such as escalating movie ticket prices, increasing credit card usage, video streaming, and rising cost consciousness of consumers will further drive market growth, the report found.
The Global Industry Analysts study forecast that growth in the upcoming years will be driven by continued consumer demand for digital content consumption, and launch of new hardware integrated with next-generation features.
In the US, broadband connectivity, assessed at a low 20 per cent only a few years back, has grown at a tremendous pace over the years to reach an impressive rate of over 78 per cent in 2011.
Asia-Pacific, on the other hand, buoyed by growing dominance of markets such as China, India and Australia in terms of Internet connectivity, broadband penetration, and huge population base, is poised to gain rapid mileage at a strong double-digit growth rate of about 36 per cent through 2017.
Key players profiled in the report include Amazon Inc., Apple Inc., Blockbuster, Inc., CinemaNow, Microsoft Corporation, MovieFlix.com, Netflix, Inc., Rovi Corporation, Sony Computer Entertainment America LLC, and Walmart Stores, Inc.
The research report – Online Movies: A Global Strategic Business Report – provides a comprehensive market overview, impact of recession, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global market participants.
The report provides annual revenue estimates and projections for the years 2009 through 2017 in value (US$) terms for geographic markets including, US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. Key service categories analysed for the United States market include, Internet-Delivered Video-On-Demand and Download-To-Own. The study also provides historic data for an insight into market evolution over the period 2003 through 2008.
Source: http://www.strategyr.com/Online_Movies_Market_Report.asp