Entertainment Market To Reap Long-Seed Gains From Covid |

0
66


August 5, 2020

The French video entertainment market is expected to reap long-term benefits from the Covid-19 pandemic, with an expected increase in industry revenue that is slightly above previous market forecasts.

That’s according to a report from Futuresource Consulting, which points to the demands of staying home as a stepping stone for French SVoD, combined with longer-term societal change that will signal a comeback for many market segments.

“The story of the industry in France is a familiar story now,” says Tristan Veale, market analyst at Futuresource Consulting. “Video entertainment and the Covid-19 situation are playing out in a similar fashion in many countries. However, France has a set of circumstances that could work in its favor. French consumer attitudes towards SVoD were already taking shape, with Netflix picking up quickly over the past three years, but the lockdown encouraged those who were reluctant to try services before. As a result, we expect SVoD to increase video spend to new levels over the next five years. ”

In 2019, SVoD subscriptions increased by 71%, with SVoD households taking an average of 1.9 services. Futuresource expects a similar increase this year, with upward pressure from a range of market movements. This includes the launch of Disney +, the entry of Salto into the market, Netflix in a phase of strong growth, the presence of Amazon Prime in e-commerce and the associated use of Prime Video, as well as good adoption. Apple TV +.

Futuresource also identifies EST films as a strong growth area this year, with a 13% increase in transactions. Orange retains its leading position in the market, while increasing its EST capacity with subscribers, with around 90% of installed decoders now activated for purchases of EST tickets. VoD channel, Apple, the launch of Amazon and Bouygues the launch of EST capacities in May 2020 have all added weight in the market.

“There is no escaping it, there are low spots in the landscape, with the box office and pay TV compromised by the coronavirus outbreak,” Veale says. “It’s a frustrating situation, as we expected 2020 to be a strong year for French cinemas after the video market returned to growth in 2019. However, this is only a failure. short term and the market will see a correction.

“Despite the turmoil, there are multiple opportunities in the video entertainment arena, and the industry will look to 2020 as a catalyst for digital growth. Our forecast shows that total consumer spending will grow by an average of 3% per year through 2024, reaching an annual turnover of 8.4 billion euros by the end of the forecast period. “



LEAVE A REPLY

Please enter your comment!
Please enter your name here