OTT Video - Bulgaria | Statista Market Forecast

In Bulgaria, revenue in the OTT Video market market is projected to reach US$66.18m in 2024.
Revenue in this market is expected to show an annual growth rate (CAGR 2024-2029) of 6.37%, resulting in a projected market volume of US$90.13m by 2029.
The largest market withBulgaria is OTT Video Advertising, with a market volume of US$43.72m in 2024.
In a global context, the majority of revenue will be generated the United States, which is expected to reach US$133.70bn in 2024.
Within the OTT Video market market in Bulgaria, the number of users is anticipated to amount to 3.8m users by 2029.
User penetration in Bulgaria will be 51.2% in 2024 and is expected to increase to 60.5% by 2029.
The average revenue per user (ARPU) in the OTT Video market market in Bulgaria is projected to amount to US$19.54 in 2024.
In Bulgaria, the OTT video market is experiencing rapid growth, driven by increased internet penetration and a rising demand for diverse content offerings.

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 Bulgaria has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Bulgarian consumers have shown a growing preference for OTT video services, largely due to the convenience and flexibility they offer. With the increasing availability of high-speed internet and the proliferation of smartphones and smart TVs, consumers are increasingly turning to OTT platforms for their entertainment needs. The ability to stream content on-demand and across multiple devices has become a key factor in their decision-making process. Additionally, the affordability of OTT subscriptions compared to traditional cable or satellite TV packages has also contributed to the rise in popularity of these services.

Trends in the market: One of the key trends in the Bulgarian OTT video market is the growing demand for local and regional content. While international content remains popular, there is a strong desire among Bulgarian consumers to watch content that reflects their own culture and language. This has led to the emergence of local OTT platforms that cater specifically to the Bulgarian market, offering a wide range of local movies, TV shows, and documentaries. Furthermore, the increasing availability of original content produced by local production companies has also contributed to the growth of the OTT video market in Bulgaria. Another trend in the market is the rise of ad-supported OTT platforms. As consumers become more accustomed to consuming content online, advertisers are recognizing the potential of OTT platforms as a means to reach their target audience. This has led to the introduction of ad-supported models, where users can access content for free in exchange for viewing advertisements. This trend has not only attracted a larger user base but has also provided an additional revenue stream for OTT providers.

Local special circumstances: Bulgaria has a relatively small population compared to other European countries, which presents both opportunities and challenges for the OTT video market. On one hand, the smaller market size allows for more targeted content offerings and personalized recommendations. On the other hand, it can be more challenging for OTT providers to achieve economies of scale and negotiate favorable content licensing deals. Nevertheless, the growing demand for local content and the relatively low competition in the market present opportunities for both local and international OTT providers.

Underlying macroeconomic factors: The growing OTT video market in Bulgaria is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more households to afford OTT subscriptions and invest in high-quality internet connections. Additionally, the government's investments in improving the country's digital infrastructure have further facilitated the growth of the OTT video market. In conclusion, the OTT video market in Bulgaria is experiencing significant growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for local content, the rise of ad-supported platforms, and the increasing affordability of OTT subscriptions have all contributed to the market's expansion. With the continued development of digital infrastructure and the availability of high-speed internet, the OTT video market in Bulgaria 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.