LOS ANGELES—Total U.S. consumer spending on SVOD services jumped by 16.86% in the first quarter of 2022 to $6.93 billion, according to new data released by The Digital Entertainment Group (DEG).
The rapid growth shows that the boom times for streaming video services is far from over, but growth was slower than the 19.3% growth seen in Q4, 2021 and the 27% growth seen a year ago in Q1 2021, indicating that growing size of the SVOD market has started to reach a point where massive growth rates will no longer be possible.
DEG also reported healthy growth in U.S. digital consumer spending on home entertainment, which rose 13.8% to $8.07 billion. Electronic sell-through (EST) rose by 6.7% to $643.6 million.
Overall, the total U.S. home entertainment spending also grew by a healthy 10.9% to $8.66 billion, driven mostly by the growth in SVOD services, which offset ongoing large declines in physical media for sell-through and rental.
George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.
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