OTT Video - Worldwide | Statista Market Forecast

Revenue in the OTT Video market market worldwide is projected to reach US$316.40bn in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.98%, leading to a projected market volume of US$443.30bn by 2029.
The largest market within this market is OTT Video Advertising, which will have a market volume of US$191.40bn in 2024.
In a global context, the majority of revenue will be generated the United States, amounting to US$133.70bn in 2024.
Within the OTT Video market market, the number of users is anticipated to reach 4.9bn users by 2029.
User penetration in this market is expected to be 50.6% in 2024, increasing to 61.0% by 2029.
The average revenue per user (ARPU) in the OTT Video market market is projected to be US$80.71 in 2024.
As global demand for OTT video continues to surge, the diverse content preferences across regions highlight the need for tailored strategies in worldwide markets.

Definition:

OTT Video refers to a digital media distribution model where users can access and watch video content at their convenience, usually through an online platform or service. With VoD, users have the flexibility to choose what content they want to watch, when they want to watch it, and how they want to consume it. This allows users to stream or download video content on demand, without the need for traditional broadcasting schedules or physical media. VoD platforms typically offer a wide range of content, including movies, TV shows, documentaries, and other video content, which can be accessed and viewed instantly or stored for later viewing. VoD has become increasingly popular in recent years, offering convenience, flexibility, and a personalized viewing experience for users.

Structure:

The market consists of several markets, namely Video Streaming (SVoD), which is streaming on a subscription basis, Pay-per-View (TVoD), which is paying for digital video content and watch it online, Video Downloads (EST), which is the download of digital video content and OTT Video Advertising, which is the advertising in video streaming.

Additional Information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through purchases and subscriptions. Market numbers for OTT Video can also be found in the video-on-demand market. Key players in the market are companies, such as Netflix, Amazon or Disney+.

Rentals as single transaction or pay-per-view (transactional VoD or TVoD)
Subscription-based services (subscription VoD or SVoD)
Digital purchases via download or permanent cloud storage (electronic-sell-through or EST)
OTT Video Advertising
Free ad-supported streaming TV (FAST) services, such as Pluto TV or Freevee

Pay-TV subscriptions (cable TV, satellite TV, IPTV, DTTV)
Physical home video (DVD & Blu-ray)
Traditional TV advertising

The OTT Video market in Worldwide is experiencing significant growth and development.

Customer preferences: Customers in Worldwide are increasingly opting for OTT video services due to their convenience and flexibility. With the rise of smartphones and high-speed internet connectivity, consumers are able to access a wide range of video content anytime, anywhere. Additionally, the ability to stream content on multiple devices and the availability of personalized recommendations are also driving customer preferences towards OTT video platforms.

Trends in the market: One of the key trends in the OTT Video market in Worldwide is the increasing demand for original content. Streaming platforms are investing heavily in producing their own original series and movies to attract and retain subscribers. This trend has led to a surge in competition among OTT video providers, as they strive to offer unique and compelling content to their customers. Another trend in the market is the growing popularity of live streaming. Many OTT video platforms now offer live streaming of sports events, concerts, and other live performances. This has become a major draw for customers who want to experience real-time events from the comfort of their own homes.

Local special circumstances: In Worldwide, the OTT Video market is influenced by the diverse cultural and linguistic preferences of its population. Streaming platforms are increasingly offering localized content in different languages to cater to the needs of specific regions. This localization strategy helps in attracting and retaining a larger customer base.

Underlying macroeconomic factors: The growth of the OTT Video market in Worldwide is supported by several macroeconomic factors. The increasing penetration of smartphones and the availability of affordable high-speed internet are key drivers of market growth. Additionally, the rising disposable income of consumers and their willingness to spend on entertainment services contribute to the expansion of the OTT Video market. In conclusion, the OTT Video market in Worldwide is witnessing rapid growth and development due to customer preferences for convenience and flexibility, the increasing demand for original content, and the popularity of live streaming. The market is also influenced by local special circumstances, such as the need for localized content. Overall, the growth of the OTT Video market in Worldwide is supported by underlying macroeconomic factors, including smartphone penetration, internet availability, and consumer spending power.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.