The streaming industry has witnessed a significant shift in recent years, with North America losing its dominance as the leading market for streaming subscriptions. According to a forecast by research firm Ampere Analysis, Western Europe is poised to surpass North America in the number of households with at least one streaming subscription. Additionally, Asia is emerging as the fastest-growing and largest region for streaming, indicating a global redistribution of streaming revenue and content investment
Ampere’s survey reveals that Western Europe, driven by the United Kingdom and Germany, will experience substantial growth in streaming subscriptions, surpassing North America in 2024. With an estimated 110.6 million streaming homes, Western Europe will become the second-largest geographic region for streaming, exerting increasing influence as a source of content on streaming platforms.
Asia, with an estimated 390.2 million subscription streaming homes, is set to become the largest region for streaming. The region’s rapid growth presents a significant opportunity for content investment, leading to an increase in Asian-origin content on streaming platforms. Viewers can expect a diverse range of content from Asia, catering to the preferences of a global audience.
The changing landscape of streaming has profound implications for content investment strategies. Global streamers, such as Netflix, Amazon Prime, Disney+, and Paramount+, are increasingly targeting international markets for production to fuel growth and cater to the demands of audiences outside the United States. As a result, the production sector in the United States may experience a shift, with a greater focus on key growth markets in Asia and Europe.
The decline of North America as the leading market for streaming can be attributed to “streaming saturation.” The region has reached a point of market maturity, with limited room for new customers and services in each household. This saturation has led to reduced growth in North America and a subsequent redistribution of streaming revenue to other regions.
The streaming landscape is undergoing a significant transformation, with Western Europe poised to surpass North America and Asia emerging as the dominant region for streaming. This shift not only impacts revenue distribution but also influences content investment strategies, with a greater focus on international markets. As viewers, we can anticipate a more diverse range of content originating from Western Europe and Asia, reflecting the changing dynamics of the global streaming industry.
