TV & Video - GCC | Statista Market Forecast

In the GCC region, revenue in the TV & Video market market is projected to reach US$2.72bn in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 3.55%, leading to a projected market volume of US$3.24bn by 2029.
The largest market within this market is Traditional TV & Home Video, which is anticipated to have a market volume of US$1.37bn in 2024.
In a global context, the majority of revenue will be generated the United States, which is expected to reach US$280.30bn in 2024.
Within the TV & Video market market, the number of users in the GCC is projected to amount to 52.3m users by 2029.
User penetration in the TV & Video market market is forecasted to be at 79.2% in 2024.
The average revenue per user (ARPU) in the GCC is projected to be US$56.84 in 2024.
The GCC region is witnessing a surge in demand for streaming services, driven by a young, tech-savvy population eager for diverse content options.

Definition:

The TV & Video market encompasses the diverse landscape of audiovisual content delivery, including traditional broadcast television, streaming services, and digital platforms. This market offers a vast array of content, from TV shows and movies to live sports events and news broadcasts, catering to a wide range of viewer interests. As technology evolves, so too does the way we consume video content, with traditional linear TV being complemented by on-demand and over-the-top (OTT) streaming options. This evolution reflects changing consumer preferences and the increasing accessibility of internet-connected devices, providing viewers with greater flexibility and choice in how they access and enjoy their favorite programs.

Structure:

The TV & Video market encompasses both Traditional TV & Home Video and OTT Video. Traditional TV & Home Video involves scheduled programming and physical media distribution like DVDs. OTT Video delivers content over the internet, offering on-demand access to a wide range of options.

Additional Information:

The market comprises revenues, ad spendings, viewers, average revenue per user, and penetration rates. Revenues are generated through purchases and subscription payments. Key players in the market are companies, such as The Walt Disney Company, Netflix, or Amazon.

Pay-TV subscriptions such as DirectTV, AT&T TV, and Sky
Over-the-top services such as Netflix, Hulu, iTunes, and Pluto.tv
Physical home video such as DVD & Blu-ray
Traditional TV advertising such as commercial breaks
Public TV licence fees such as BBC TV License in the UK and the Rundfunkbeitrag in Germany

Movie theater ticket sales such as from AMC Theatres
Public license fees collected in the form of a tax such as income tax in the Nordic countries

The TV & Video market in GCC has witnessed significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the TV & Video market in GCC have shifted towards on-demand and streaming services, as consumers seek greater convenience and flexibility in their viewing habits. This trend is in line with global market trends, as viewers increasingly prefer to watch content at their own convenience, rather than being tied to traditional broadcast schedules. Additionally, there is a growing demand for high-quality content, including original productions and exclusive rights to popular TV shows and movies. Trends in the market indicate a strong growth potential for streaming services in the GCC region. With the increasing availability of high-speed internet and the proliferation of smartphones and smart TVs, consumers are embracing streaming platforms such as Netflix and Amazon Prime Video. This trend is expected to continue as more players enter the market and offer localized content to cater to the diverse preferences of GCC consumers. Furthermore, the COVID-19 pandemic has accelerated the adoption of streaming services, as people spend more time at home and seek entertainment options. Local special circumstances also play a role in the development of the TV & Video market in GCC. The region has a young and tech-savvy population, who are early adopters of new technologies and platforms. This demographic factor, coupled with the high disposable income in the GCC countries, has created a favorable environment for the growth of the TV & Video market. Additionally, the GCC countries have been investing heavily in infrastructure development, including the expansion of broadband networks, which has further facilitated the growth of streaming services. Underlying macroeconomic factors also contribute to the development of the TV & Video market in GCC. The region's strong economic growth, driven by sectors such as oil and gas, has resulted in increased consumer spending power. This has translated into higher demand for premium TV and video content, as consumers are willing to pay for quality entertainment. Furthermore, the GCC governments have been supportive of the media and entertainment industry, implementing policies to attract foreign investment and promote local content production. In conclusion, the TV & Video market in GCC is experiencing significant growth, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards on-demand and streaming services, coupled with the region's young and tech-savvy population, is fueling the growth of the market. With the continued investment in infrastructure and the availability of high-quality content, the TV & Video market in GCC is expected to continue its upward trajectory in the coming years.

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 segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Segment size:

The segment 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 segment 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 segment. 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.