Sweden’s television market achieved an annual turnover of SEK21 billion (€2.24 billion) in 2014. However the 5% growth hides the decline in influence from the traditional broadcasters.

In its annual report on the Swedish television market, Mediavision says Swedes have dramatically reduced their broadcast TV viewing.

A fall of 4% means that average daily viewing time now sits at 153 minutes, the lowest figure since 2005. The fall comes despite sporting events, such as the Sochi Winter Olympics and the FIFA World Cup, which would normally be seen as bankers.

While broadcasters have lost SEK200 million in advertising revenues, only a fraction has been picked up by the pay-TV platforms, who have seen their overall subscriber base drop for the second year in succession.

“It has only been a matter of time before the shift in the consumption of video would also start being reflected in revenues. We have seen this development for other media industries and TV will not be an exception – online is where the growth will be from now on and where the next battle will stand. The good news is that the market as a whole is growing and that consumer interest continues to be high. In short, it’s exciting times ahead for the Swedish TV market, says Marie Nilsson, CEO, Mediavision.

Competition on the online market is considerably tougher than on the broadcast TV market. Here, global players such as Netflix and YouTube not only command big shares of viewing, but also of revenues.

This has resulted in several players, including TV4 owner Bonnier, step up their efforts for 2015.