Stay ahead of the curve and future-proof your business with Mintel’s UK Video Streaming Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest video streaming insights, trends and consumer behaviours affecting your business. Get a 360° view of the video streaming market, including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- Trends in the use of video streaming compared to other forms of video viewing.
- Impact of the cost of living crisis on the video streaming market
- Key providers of paid-for video streaming services in the UK.
- Competitive strategies and innovation in the video streaming market.
- Key factors that motivate consumers to keep a paid-for video streaming subscription.
- Consumer attitudes and behaviour toward video streaming.
Video Streaming Market: Overview
The cost of living crisis has hampered near-term growth prospects for paid-for streaming on-demand services, with the rising costs of streaming services causing many existing subscribers to at least consider cancelling. To maintain subscriber numbers, leading services have begun to introduce ad-supported subscription options that cost significantly less than their ad-free tiers
- Video streaming market size: As of 2022, subscription-video-on-demand accounts for 17% of total time spent viewing video across all platforms.
Video Streaming Market: Opportunities and Challenges
Ad-supported streaming services
Ad-supported streaming services are expected to play a growing role in the future development of video streaming since they offer providers a valuable additional source of revenue. However, Mintel research reveals mixed opinions about their appeal when it comes to paid services
- Video streaming insights: 80% of UK adults subscribe to Netflix.
Older generations offer great opportunity
Older generations of viewers currently offer paid-for video streaming service providers the best opportunity for organic growth in subscriber numbers. Developing original content that appeals to over-65s can be a valuable way to attract this rapidly growing subset of the population to paid-for streaming services.
- Video streaming insights: 52% of Baby Boomers access their video streaming service via a smart TV.
To learn more about the video streaming market, including a five-year forecast, consumer behaviour analysis, and market opportunities recommendations, purchase our full UK Video Streaming Market Report.
Leading Brands in the Video Streaming Market
Apple, Paramount, Now, Disney, Amazon Prime Video, Netflix.
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Expert Insights from a Research Analyst
This report, written by George Zaborowski, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the video streaming market and add expert context to the numbers.
The cost of living crisis has temporarily dampened overall consumer demand for paid-for video streaming services, but it has also hastened the development of ad-supported services. Lower cost ad-supported tiers are initially being introduced by SVoD providers as a way to sustain subscriber growth after price increases, but over the longer term they will play a key role as a valuable source of additional revenue.”
George Zaborowski
Senior Market Research Analyst
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Overview
- Key issues covered in this Report
- Products covered in this Report
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Executive Summary
- The five-year outlook for video streaming
- Figure 1: Category outlook for video streaming services, 2023-28
- The market
- SVoD grows in influence as attention to live TV dwindles
- Figure 2: Average video viewing time per person per day across select platforms, all UK individuals aged 15+, 2015 -22
- Younger viewers watching the most SVoD/AVoD content
- Figure 3: Average total video time per day, 2022
- Pressure on household budgets will push up demand for AVoD services
- Demand for advanced streaming hindered by slowdown in device adoption
- US writers’ and actors’ strike set to bring in big changes
- Streaming services facing the possibility of stricter regulations due to the Media Bill
- Companies and brands
- Lower cost and free AVoD options set to expand further
- Netflix begins its crackdown on account sharing
- VR and streaming in its infancy but set to gain momentum
- Netflix has built up a stellar brand image
- Figure 4: Attitudes towards and usage of selected brands, 2023
- The consumer
- Video streaming is widespread with a lean toward FAST services
- Figure 5: Service used to watch video or TV content in the last 3 months, 2023
- Netflix remains the most popular SVoD service in the UK
- Figure 6: Provider of paid-for video streaming service subscription(s), 2023
- Most SVoD viewers personally subscribe to two or more paid services
- Figure 7: Repertoire on provider of paid-for video streaming service subscription(s), 2023
- Fresh content and a large selection remain vital to customer retention
- Figure 8: Key reasons to keep video streaming service, 2023
- A Smart TV is the top overall streaming device, but Gen Z prefers smartphones
- Figure 9: Main device used for video streaming, by generation, 2023
- Most enjoy SVoD services, but many are considering cancelling one due to price rises
- Opinions are split about the appeal of ad-supported services
- Figure 10: Agreement with statements about attitudes and behaviour toward video streaming services, 2023
- The five-year outlook for video streaming
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Issues and Insights
- Inflation has accelerated the rise of AVoDs and altered the market’s competitive dynamics
- A rise in demand for advanced streaming experiences is on the horizon
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Market Background
- AVoD services will be a key driver of future growth
- Figure 11: Category outlook for video streaming services, 2023-28
- SVoD grows in influence as attention to live TV dwindles
- Figure 12: Average video viewing time per person per day across select platforms, all UK individuals aged 15+, 2015 -22
- Younger viewers are watching the most VOD content…
- …and spend the most time viewing social media-based video
- Figure 13: Average total video time per day, 2022
- Social media as a friend not foe
- AVoD services will be a key driver of future growth
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Market Drivers
- Inflation will continue to hinder consumer spending power in 2023
- Further growth in ad-supported streaming likely
- US writers’ and actors’ strike set to bring in big changes
- Near-term availability of fresh content will be limited on most platforms
- Streaming services to face higher costs related to pay and residuals
- Writers and actors demand fairness around the use of AI
- Broadband available to UK households getting faster
- Figure 14: Fixed broadband coverage in UK, by speed intervals, May 2022- January 2023
- 5G mobile coverage expanding but 4G remains dominant for now
- Faster connections enable advanced streaming experiences…
- …but demand for them hindered by slow adoption of relevant devices
- Figure 15: Household ownership of HD TVs, UHD TVs, and virtual reality headsets, 2023
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Regulatory and Legislative Changes
- Intellectual Property Office says password sharing is illegal
- Media bill will place stricter regulation onto streaming service providers
- Leading players warn that the new rules are too restrictive
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Competitive Strategies
- Most major providers have or plan to offer ad-supported streaming
- Amazon’s FAST service rebranded as Freevee with new content to be added monthly
- Netflix launches a lower cost ad-supported option after hiking prices
- Disney+ launches ad-supported tier in the US, with UK launch possible in 2023
- Paramount+ may introduce ad-supported tier
- Netflix clamps down on account sharing…
- …and competitors may soon do the same
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Launch Activity and Innovation
- VR and streaming in the experimental phase but set to gain momentum
- VR Cinema App “Bigscreen” adds more streaming services
- Meta announces integration of YouTube VR and new streaming service onto headsets
- Netflix creates Stranger Things VR game
- Roku introduces its own connected TV
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Brand Research
- Brand map
- Figure 16: Attitudes towards and usage of selected brands, 2023
- Key brand metrics
- Figure 17: Key metrics for selected brands, 2023
- Brand attitudes: Netflix viewed as the brand most worth paying more for
- Figure 18: Attitudes, by brand, 2023
- Brand personality: Apple TV+ considered the most exclusive
- Figure 19: Brand personality – macro image, 2023
- Netflix and Disney+ are the most appealing SVoD brands
- Figure 20: Brand personality – micro image, 2023
- Brand analysis
- Netflix has built up a stellar reputation
- Amazon Prime Video is the trustworthy value for money brand
- Disney+ seen as exciting but expensive
- Now has a fairly anonymous brand image
- Paramount+’s brand image still being shaped
- Apple TV+ brand fails to inspire and is perceived as expensive
- Brand map
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Use of Video and TV Services
- Video streaming is widespread with FAST services slightly favoured
- Figure 21: Service used to watch video or TV content in the last 3 months, 2023
- Younger generations are heaviest users of SVoD and social media streaming…
- …but older generations offer SVoDs greatest opportunity for organic growth
- Figure 22: Service used to watch video or TV content in the last 3 months, by age, 2023
- Two thirds watch video via multiple services…
- …highlighting the value of taking a multifaceted approach
- Figure 23: Repertoire on service used to watch video or TV content in the last 3 months, 2023
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- Figure 24: Types of services used to watch video or TV content in the last 3 months, by repertoire on types of services used to watch video or TV content in the last 3 months, 2023
- Video streaming is widespread with FAST services slightly favoured
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Paid-for Video Streaming Subscription Providers
- Netflix remains the UK’s most popular SVoD service
- Figure 25: Provider of paid-for video streaming service subscription(s), 2023
- Amazon and Disney+ the biggest threats to Netflix’s dominance
- For most providers over-55s are the key demographic for organic growth
- Figure 26: Provider of select paid-for video streaming service subscription(s), by age, 2023
- Most SVoD viewers personally subscribe to two or more paid services
- Figure 27: Repertoire on provider of paid-for video streaming service subscription(s), 2023
- Figure 28: Provider of paid-for video streaming service subscription(s), by repertoire on provider of paid-for video streaming service subscription(s), 2023
- Netflix remains the UK’s most popular SVoD service
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12-month Trend in Paid Subscriptions among SVoD Viewers
- Higher proportion of SVoD viewers subscribing than 12 months ago
- Market leaders have benefited most
- Figure 29: Provider of paid-for video streaming service subscription(s) 12 months prior to May 2023 vs May 2023, 2023
- Launch of ad-supported tier helping Netflix hold onto its leading position
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Key Reasons to Keep Video Streaming Service
- Fresh content and a large selection key to customer retention…
- … and competition to deliver on these metrics is more intense than ever
- Figure 30: Key reasons to keep video streaming service, 2023
- Younger generations most focused on tech…
- … and are the most likely to be disappointed by bans on account sharing
- Figure 31: Key reasons to keep video streaming service, by generation, 2023
- Access to other types of content most appealing to men under-35
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Main Device Used for Video Streaming
- A Smart TV is the most commonly used device for video streaming…
- …but for Gen Z it is the smartphone that is number one
- Figure 32: Main device used for video streaming, by generation, 2023
- VR headsets will soon become increasingly relevant
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Attitudes and Behaviour Towards Video Streaming Services
- Most view SVoDs in a positive light…
- …but many are turned off by show cancellations
- Rising prices are leading younger subscribers to consider cancelling
- Figure 33: Agreement with statements about attitudes and behaviour toward video streaming services, 2023
- Mixed views about the appeal of ad-supported services
- Younger viewers will be most affected by password sharing crackdown
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Appendix – Data Sources, Abbreviations and Supporting Information
- Abbreviations
- Consumer research methodology
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