The video-on-demand sector is becoming a crucial one for the British film industry. Last year, the BFI’s yearbook revealed that the market had expanded by a remarkable 50 per cent.
Online film revenues jumped by 123 per cent to reach £122 million in 2013, outstripping the television market (at £121 million) for the first time in recorded history. Providers such as Netflix and Lovefilm have become key components in the provision of VoD.
Now, new 2014 figures from the BFI show the trend becoming even more pronounced.
What does this mean for independent film producers? As our Clowdy Shorts competition showed, there’s plenty of enthusiasm online for movies that don’t come from the mainstream, and streaming can make it easier for these to become a success.
Check out our graph below to see how online VoD came from humble beginnings to outstrip TV-based on demand services and emerge as a high-growth segment of the market.