After a clear slowdown last year, during the first quarter of 2023 growth was again noted for SVOD streaming services in Sweden. The fact that more households now choose to buy streaming subscriptions is primarily due to subscriptions being bundled with pay TV, according to Mediavision’s latest analysis of the Swedish streaming market.
Household penetration for paid streaming services in Sweden increased by 9% in the first quarter, compared to the same period in 2022. According to Mediavision, this is a shift, after a period of relatively slow growth. Today, close to 70% of households in Sweden have at least one paid streaming service, either as a stand-alone subscription or bundled with another service, usually pay TV. It is mainly these bundled offers that are now driving growth. This type of subscription increased by a whopping 15% in the first quarter and is now found in every fourth household.
It is primarily households that previously did not have paid streaming services that are now attracted by this new type of packaging. TV operators, such as Telia and Tele2, have broadly launched streaming content alongside their traditional TV offerings. These bundles are perceived as good value which has likely had an impact on uptake. Subscriptions that are bundled with another service are usually less expensive than buying them separately.
“Bundled offers have developed rapidly, with an increasing number of offerings from more TV operators. We now see that these packages are also attracting brand new households, which previously did not have paid streaming services. There are many indications that this trend will continue, as it has driven both increased access and market turnover,” commented Marie Nilsson, CEO of Mediavision.