2023-11-16 11:47:00
Are we facing a shift? Not impossible. While the arrival of SVOD (Subscription Video On Demand) services will celebrate its 10th anniversary in Belgium next year (Netflix was launched in Belgium in September 2014), for the first time, the popularity and use of these video streaming services are dropping out in Belgium. This is what emerges from Deloitte’s “Digital Report” 2023 study. The penetration of Netflix, Disney +, Amazon Prime Video and others seemed to have reached its glass ceiling in 2022, with, for the first time, a stagnant figure. In 2023, it will decline, going from 53% of 18-75 year olds surveyed subscribing to now 47%.
Video streaming services are losing ground in Belgium, which has never happened before. Netflix is falling back hard while, once morest the grain, Prime Video is progressing, by cutting its prices here. ©DELOITTE DIGITAL REPORT 2023
Behind this overall downward trend, the reality of some is not necessarily that of others. The one who enjoys the most is the biggest in the area: Netflix, which goes from 46 to 38% penetration. Disney + goes from 18 to 15%. on the other hand, Amazon Prime Video continues to progress in this bear market, climbing from 10% market share in 2022 to 12% in 2023. But it must be remembered that this success once morest the tide is due, in our flat country, to an extremely aggressive pricing policy, first justified by the launch of the service in Belgium, then, supported by the launch of Amazon’s Belgian webshop in our latitudes, a little over a year ago.
Prime Video, lightening in the gray, but faked by temporarily very advantageous prices
Subscribing to Prime, in Belgium, the e-retailer’s fast delivery service (which automatically unlocks access to Prime Video) only costs €2.99/month or €25/year. at least for the moment, Amazon has not yet passed on the price increases it practices in many other markets. The fact remains that it is four times cheaper than our German neighbors, for example. A period of grace that will not last forever…
65 euros in savings: why Amazon Prime is 3 to 4 times cheaper in Belgium than our neighbors
Netflix or Disney +, on the other hand, have succumbed to it recently in our country. Which, combined with the crisis in purchasing power and inflation, might obviously have dissuaded Belgians from these subscriptions. Of the top three reasons for cancellation in the previous year, two were definitely cost-related, the report confirms. “The subscription was too expensive” was cited by 25% of respondents, up from 23% in 2022, and “rising costs in other areas” was mentioned by 24%, up from 15%. Faced with an electricity bill that might have tripled to be paid, the Netflix subscription that can be canceled at any time suffered, in short.
The specter of the end of account sharing, a stone in the shoes of subscribers
Deloitte points to another major element, which would be at the origin of the wave of unsubscriptions: the demise of account and password sharing, which SVOD services, in search of greater profitability, are trying to implement. However, if the majority of Belgians (59%) do not share their access to video subscriptions outside their home, 39% share accounts between two or more households…
Like Netflix, Disney + would like to put an end to account sharing!
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