iWorld
UK SVoD growth up; people spending more time on streaming platforms: Omdia’s Research
Mumbai: According to a research report released recently at Connected TV World Summit, Omdia’s senior director Maria Rua Aguete said, “The number of people paying for video services in the UK has increased 11 per cent over the last year and quarter on quarter since April 2021.”
According to Aguete, despite the UK cost of living crisis, UK people are tending to spend more and certainly no less in streaming video services. In terms of dealing with rising costs, consumers prefer to cut other expenses than their own home entertainment in order to deal with the rising cost. As the survey reveals, cuts in other spending has allowed them to subscribe to extra services.
Currently, the average UK household has 2.6 pay subscription services at home, 2 Svod services and 0.6 Pay TV. Although the churn rate has increased significantly in the last 12 months.
Despite Netflix results showing a decline in global subscriptions (200,000 in Q1 2022), Netflix remains the UK’s favourite video service. It is also still the most popular SVOD service in the domestic market, the USA.
80 per cent of households in the UK have an online subscription. YouTube and BBC iPlayer tops the chart as most favourite online video services in the UK followed by Netflix. Netflix’s Svod service is still in the race with 15.5 million subscribers.
Other most popular services in the UK are: Amazon Prime Video with 10 million subscriptions and Disney Plus with 7.5 million subscriptions.
Churn has increased significantly in the last 12 months:
45 per cent more subscription video services were cancelled in the last 12 months, while overall there were 20 percent more consumers cancelling their services compared to last year, but counteracting this trend, the number of services cancelled and re-subscribed to in the last 12 months has grown by 84 per cent meaning that although more people are churning, more people are subsequently resubscribing with 50 per cent more re-subscribers in the UK now.
According to the reports, online video subscriptions will reach 2 billion in 2027. The biggest growth in the last six months comes from: Disney, Now TV, Netflix and Amazon Prime with 21 percent, 18 percent, 8 per cent and 5 per cent respectively.
Those with four streaming video services per home are the ones churning less than those who took more than seven SVOD services are among the highest churners.
Looking forward, Omdia expects that Netflix, currently in the lead in the streaming video race (Q1 2022), will still lead in five years’ time (2026) Aguete adds: “With the lowest churn rate across all streaming video services and highest lifetime value per customer, Netflix will continue and surpass Disney by 2026.”
iWorld
Epic Company launches unified Epic Studio for films and OTT
Vivek Krishnani to head films business; Samar Khan leads OTT & Television.
MUMBAI: Epic just merged its creative superheroes under one cape because when films and OTT need to fight for attention together, you don’t keep them in separate universes. The Epic Company has launched Epic Studio, a next-generation creative and production powerhouse that unites Juggernaut Productions and Movieverse Studio under a single banner. The move creates a streamlined, scalable platform for premium storytelling across theatrical films, OTT originals, television, digital-first formats and branded content.
Vivek Krishnani has been appointed chief executive officer, Epic Studio (Films), overseeing the theatrical and film business with a focus on culturally resonant narratives across Hindi, Telugu, Tamil, Gujarati and Malayalam cinema. Samar Khan continues as chief executive officer, Epic Studio (OTT & Television) and retains his role as chief content officer for Docubay and Epic On.
The Epic Company managing director Aditya Pittie said, “Epic Studio brings together our entire creative ecosystem under one unified studio vision. This is not just an integration of verticals, but the creation of a collaborative environment where writers, filmmakers, creators, and brand partners can seamlessly develop and scale stories across formats and screens.”
Vivek Krishnani added, “We are building an audience-focused mainstream film studio committed to delivering fresh, engaging, and innovative stories for both theatrical and streaming platforms.”
Samar Khan commented, “This alignment allows us to approach storytelling with a unified studio mindset. We are building IP under one creative umbrella, with scale and longevity in mind from inception.”
The unified structure eliminates silos, enabling ideas to flow fluidly from concept to screen while adapting to evolving audience behaviour. Epic Studio positions itself as a creator-led ecosystem championing purposeful, resonant storytelling with commercial strength.
In an entertainment landscape where stories now leap between screens faster than plot twists, Epic isn’t just building a studio, it’s crafting a single launchpad where every tale gets the best shot at soaring across every platform.
