U.S. SVOD Spending Up 22% YoY in Q1 to $8.7B

(Image credit: MIDiA)

LOS ANGELES—Despite widespread concerns that the streaming business is reaching a more mature stage of slower growth, the Digital Entertainment Group (DEG) is reporting that consumer spending on subscription streaming (SVOD) services rose by 22.2% in Q1 of 2023 to $8.71 billion compared $7.13 billion a year earlier in Q1 2022. 

The SVOD data is sourced from Omdia. 

In its Q1 report on consumer spending on home entertainment products in the U.S., the Hollywood studios-backed group DEG also reported hefty spending in total digital home entertainment products, which hit $9.72 billion, up 17.49% from $8.27 billion a year earlier in Q1 2022. 

Electronic sell-thru revenue, however, fell 12.3% to $564.35 million in Q1 2023 from $643.57 million a year earlier and VOD revenue declined by 11.5% to $443.47 million in Q1 2023 from $501.08 million a year earlier, according to DEG

Spending on physical home entertainment products such as DVDs and Blu-rays continued to crater, slumping to $377.25 million in Q1, down 26.85% from $515.72 million a year earlier.   

George Winslow

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.