Crime, Sci-Fi and Comedy dominate 2023’s global streaming bill of $42bn

The major global streaming platforms (Netflix, Amazon Prime Video, Disney+, Apple TV+, Paramount+ and Max/HBO Max) will invest $42bn in original and acquired film and TV content this year, the latest Ampere Analysis forecasts suggest. This marks a slower rate of growth of 7% year-on-year, compared to the 24% growth in streaming spending witnessed in 2022. High-budget Originals in key scripted genres including Crime & Thriller, Sci-Fi & Fantasy and Comedy continue to be the primary drivers of growth. However, in light of intense competition and the influence of macroeconomic factors, SVoD platforms will prioritise cost management and effective content acquisitions to thrive in 2024 and beyond. Scripted Original titles take centre stage in streamers’ content strategies Of the $42bn in SVoD content spend dedicated to TV series and films, 90% is for scripted. Crime & Thriller tops SVoD spending, with investment expected to hit $12bn this year. Sci-Fi & Fantasy and Comedy genres also command substantial funds, emphasising that high-budget Scripted TV content remains the most powerful tool for attracting subscriptions and maintaining subscriber engagement. At a platform level, 2 Ampere Analysis 2023 © Netflix and Amazon Prime Video adopt a balanced approach to genre allocation, leveraging their scale to cater to the preferences of diverse demographics. Other SVoD players are pursuing more targeted spending strategies, focusing on key genres and IP to cultivate loyal subscriber bases. Apple TV+ dedicates 40% of its spend budget to Crime & Thriller titles, building on past successes such as Slow Horses and Severance. Disney+ has prioritised Sci-Fi & Fantasy and Children & Family genres, anchored by TV spin-offs from the Star Wars, MCU and Pixar franchises.

From Talk to Dating, streamers turn to Unscripted content as budgets tighten Streamers are increasingly turning to Entertainment and Reality as their budgets tighten and they search for subscriber engagement at a lower cost. Spending on Unscripted content by SVoD platforms is set to hit $4.9bn this year, growing by 22% year-on-year, vastly outpacing the overall rise in spending by global streamers. An initial focus on Documentaries has expanded to encompass Entertainment and Reality, with a particular focus on both producing and acquiring Dating, Talk show and Game show formats. Content acquisition spend will rebound in 2024, after falling by 11% since 2021 Exclusive original titles have fuelled the growth of content budgets for global SVoD platforms, accounting for 67% of film and TV spend in 2023. However, the spotlight is shifting towards content acquisition strategies, poised to play an increasingly vital role. Content acquisition spend for major SVoD platforms is projected to grow by 5% next year, reaching $14.8bn. Crime, Romance, and Drama genres lead in acquired content spending, offering substantial potential for cross-border content licensing. In pursuit of cost-effective library expansion, compounded by industry strikes in the USA, SVoD 3 Ampere Analysis 2023 © platforms are looking to success stories like NBCUniveral's Suits and HBO shows Band of Brothers and Insecure on Netflix. Neil Anderson, Senior Analyst at Ampere Analysis says: “In 2023, we forecast that major global SVoD platforms will collectively invest $42bn in film and TV content. The moderated spending growth rate in comparison to previous years, underscores the maturity of the SVoD market and the importance of strategic spending across genres. At $15 billion, Netflix will retain its position as the top investor in global streaming content, albeit with a modest 2% increase. Meanwhile, rivals such as Disney+, Paramount+, and Apple TV+ are poised for more substantial budget expansions, projecting year-on-year increases exceeding 10%.”