Nordic TV and video revenues close in on €10bn

Total Nordic TV and video revenues are expected to reach €9.8 billion for 2023, according to the latest statistics from local research outfit Mediavision.

Source: Mediavision

The outfit found that the Nordic video market has grown by two per cent annually over the past four years at constant currency and revenues are expected to exceed €10 billion in 2024.

Growth in digital revenues has counterbalanced a weakened broadcast TV market.

The market includes both advertising and paid subscriptions for broadcast and online, as well as cinema and public service broadcasting.

Digital video services such as SVOD, TVOD and AVOD have all grown by 10% yearly over the past four years. This growth has more than compensated for the two per cent yearly decline in traditional broadcast TV revenues during the same period.

Mediavision’s finding are based on consumer research, market data and company reports.

The transformation to digital is also reflected in the development of revenue shares. Total broadcast revenue has declined from 5 % in 2019, to 44% in 2023.

Cinema’s drop is also significant, but is explained by the decline during the pandemic.

“The Nordic video market is still going strong, mainly driven by consumers’ great interest in new digital services. Despite a weakened general economy and a feeble advertising market, revenues are increasing. The number of paid streaming subscriptions is increasing and is now approaching a total of 20 million in the Nordics. Also, for the first time, we can now see that online viewing exceeds viewing of traditional TV on a Nordic aggregated level,” said Fredrik Liljeqvist, senior analyst at Mediavision.