The growth of the Australian Video Entertainment market continued, and in 2023, the total market revenue reached AU$6.6 billion, a 4.9% increase compared to 2022.
SVoD and Box Office were the main growth drivers for the total revenue, where SVoD holds the largest market share.
In 2023, SVoD generated AU$3.2 billion; by 2028, it is expected to reach AU$4.5 billion. Box Office witnessed growth in 2023 but is unlikely to hit the pinnacles seen previously due to a slowdown in moviegoer sentiment and increased competition from entertainment choices.
Pay-TV holds a third of the market proportion of entertainment spend, however it is witnessing churn across the forecast period. The transactional market has seen a more optimistic year in 2023, with the strong engagement of studios and consumers towards the premium segment.