LONDON—More than one million 8K TV units are expected to be sold globally in 2021, passing that benchmark for the first time according to estimates from Deloitte. Even with surges in 8K TV sales, Deloitte still estimates that they will make up less than 1% of the 200 million-plus sets sold annually.
Even though 8K TVs will make up a small percentage of the total number of new TV units sold, 8K TVs are projected to garner more than $3.3 billion in global revenue, per Deloitte. That is because currently the average selling price for an 8K TV is more than $3,000.
Like 4K and HD TVs before it, Deloitte predicts that as prices for 8K TVs come down, their sales will go up. In 2017, the average sale price for an 8K TV was about $8,000, which then dropped to about $5,500 in 2018. By the end of 2021, Deloitte estimates that 8K TV prices will drop to about $1,300, helping to spur sales.
This surge in 8K TV sets will occur even as less than 0.1% of video content created in 2021 will be in native 8K, Deloitte says. This fits a trend, as Deloitte cites that more than half of TV sets sold in 2021 are projected to be 4K TVs, though less than 5% of content on SVOD and less than 1% of broadcast program hours will be 4K.
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There are ways for viewers to watch 8K content on their 8K TVs, though. Deloitte points to 8K TV sets ability to upscale 4K content; remastered 70mm movies are equivalent to 8K; and some content has been shot in native 8K but was released 4K. The 2021 Olympics are also expected to capture some events in 8K.
Deloitte also highlights that 8K TVs can host applications beyond entertainment, including remote working capabilities, online exercise classes and digital wallpaper.
More information on Deloitte’s 2021 8K predictions are available on its website.
