After a slow start compared to North America, Europe embraces its streaming future. Revenues in the 28-country bloc reached €12 billion in 2020, with SVOD alone accounting for €10 billion.
To gain a global content edge, Netflix has set into motion a EU production boom with plans to produce over 225 films and shows in Europe. Netflix currently controls 53% of the SVOD market in Europe.
Never known for adapting to changing markets, European companies are now forced to forge alliances in hopes of staying relevant after the well-timed onslaught of Netflix in Europe.
European broadcasters and content providers are implementing three strategies in the online content delivery market to stave off competition from Disney, Amazon and Netflix.
