Report: Global OTT Video Revenue to Double by 2024

It’s an over-the-top video universe and new data from Digital TV Research contends global sales of digital movies and TV shows will reach $159 billion in five years — more than double the $68 billion generated in 2018.

As expected, subscription streaming video (i.e. Netflix, Amazon Prime Video, etc.) continues to spearhead the market, adding $51 billion in revenue by 2014 to $87 billion.

While OTT video is a global market, the industry is primarily led by five countries (U.S., China, U.K., Germany, France) with 68% market share, which is down from 71%.

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Indeed, OTT revenue in the U.S. is expected to reach $61 billion in five years from $27 billion in 2018. OTT revenue from 18 other countries (outside the top five) is projected to reach $1 billion by 2024, up from 10 countries in 2018.

“Despite losing market share to SVOD, there is still plenty of AVOD growth left,”  Simon Murray, analyst at Digital TV Research, said in a statement. “[Ad-supported VOD] revenue will increase by $34 billion between 2018 and 2024 to take its total to $56 billion. Several high profile AVOD-funded platforms are due to start operations soon.”

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