LOS ANGELES—Despite widespread concerns that the streaming business is reaching a more mature stage of slower growth, the Digital Entertainment Group (DEG) is reporting that consumer spending on subscription streaming (SVOD) services rose by 22.2% in Q1 of 2023 to $8.71 billion compared $7.13 billion a year earlier in Q1 2022.
The SVOD data is sourced from Omdia.
In its Q1 report on consumer spending on home entertainment products in the U.S., the Hollywood studios-backed group DEG also reported hefty spending in total digital home entertainment products, which hit $9.72 billion, up 17.49% from $8.27 billion a year earlier in Q1 2022.
Electronic sell-thru revenue, however, fell 12.3% to $564.35 million in Q1 2023 from $643.57 million a year earlier and VOD revenue declined by 11.5% to $443.47 million in Q1 2023 from $501.08 million a year earlier, according to DEG
Spending on physical home entertainment products such as DVDs and Blu-rays continued to crater, slumping to $377.25 million in Q1, down 26.85% from $515.72 million a year earlier.
