Netflix is expected to reach over 1 billion monthly active users globally by 2027 while YouTube is close to 3 billion in the same year. This figure, according to the latest report by Omdia Research which emphasizes that these two platforms are increasingly dominating the global video market.
In the report, Omdia also gave examples of how these two platforms are changing the way viewers in Europe enjoy content.
In France, Netflix emerged as the top choice with 18% of first views, followed by YouTube with 12%, thus surpassing traditional broadcasters and pay TV.
The study also found that YouTube viewers overlap significantly with large broadcaster platforms such as France TV, TF1+ and M6+, thus making YouTube complementary to broadcasters and an additional channel to reach audiences outside the traditional TV ecosystem.
Meanwhile, the market in the UK is said to be more balanced. Netflix leads with 17%, Sky follows with 15% and YouTube 9%.
This data shows that Sky still plays an important role as a major content provider despite the increasing dominance of digital platforms.
In other words, Sky is still relevant because it continues to be the choice of viewers who want a combination of premium content in one place rather than relying solely on digital platforms.
A brief summary of Sky, it is a leading broadcasting and pay television company in the UK that offers a variety of TV channels, films, sports and streaming services. Sky is known as a premium content broadcaster for combining various entertainment options in one platform, making it a major competitor to global streaming services such as Netflix and YouTube.
From the findings of this report, Netflix is seen as the leader in premium subscriptions while YouTube is increasingly important as a space for new viewers. However, the question arises after several news reports about Netflix subscription price increases in several countries before whether consumers will continue to pay more for exclusive content or switch to alternative platforms that are more accessible.
