As much as US$53 billion in extra revenue, representing growth of 33%, will be generated by worldwide over-the-top (OTT) TV and film services from 2023 to 2029, totalling $215 billion says a study from Digital TV Research.
The Global OTT TV and Video Forecasts report revealed that subscription video-on-demand (SVOD) will remain the principal OTT revenue source, growing by $19 billion between 2023 and 2029 to $127 billion. Advertising video-on-demand (AVOD) revenues are projected to grow faster than SVOD.
Digital TV Research calculates that AVOD revenues for TV series and movies will reach $69 billion by 2029, up by $30 billion from $39 billion in 2023. The analyst noted that these figures are lower than its previous edition due to the global advertising slowdown and slower than expected rollouts of hybrid AVOD-SVOD platforms by the US major platforms.
Territorially, Global OTT TV and Video Forecasts report pinpointed the US as remaining the dominant market by some distance. Its share of global revenues will be 38% by 2029, albeit down from 46% in 2023. Digital TV Research forecasts that US revenues will climb by $8 billion between 2023 and 2029 to reach $82 billion. Of these, SVOD will contribute $54.6 billion. China is set to bring in $9.6 billion in SVOD revenues and $7.4 billion from SVOD.
Source: https://www.rapidtvnews.com/2023091164178/global-ott-to-soar-over-next-six-years.html#axzz8D50aiZo8