Local Australian streaming services are trumping larger, global players when it comes to both the popularity and profitability of their streaming services, according to data from market intelligence company Sensor Tower.
Nine, ABC, Seven Network and Stan Entertainment dominated the top 10 entertainment apps when measured by downloads over the past 12 months.
Looking at revenue, homegrown platform Streamotion (which includes sporting service Kayo and video streaming service BINGE) surpasses Netflix and many other big global streaming players.
Considering the news around Netflix’s significant decrease in users, Sensor Tower said it is unsurprising that consumers are looking elsewhere as they boycott price increases and the inability for multiple users to stream from one account.
According to PwC's Entertainment and Media Outlook 2022, the average Australian household holds 2-3 subscriptions, spending more than $8 billion on streaming and gaming last year.
Tom Cui, managing director of APAC at Sensor Tower, said: “Despite Netflix’s recent loss of subscribers, they are still the top service in Australia from a user and viewership standpoint, but their growth has been significantly impacted and has presented a prime opportunity for local streaming services to show their value to customers looking to shop elsewhere.
“When many people think of streaming services, it’s Netflix, Amazon and Disney that spring to mind. What our Sensor Tower data has shown is that homegrown streaming services are giving these global brands a run for their money in terms of both popularity and revenue.
“Streamotion is a key performer with its sporting service, with Kayo ranking higher than most entertainment apps for revenue in Australia. This is a reflection of how much Aussies love their live sport and if you work in the streaming industry, this is where you can expect to continue to see a surge in consumer downloads and spend."
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