Key regions: United Kingdom, Germany, Asia, South Korea, Japan
The OTT Video market in G7 countries has seen significant growth in recent years, driven by changing customer preferences and the increasing availability of high-speed internet.
Customer preferences: Customers in G7 countries are increasingly turning to OTT video platforms for their entertainment needs. This shift in preference can be attributed to several factors. Firstly, the convenience and flexibility offered by OTT platforms allow users to access a wide range of content anytime and anywhere. This is particularly appealing to consumers who value convenience and want to have control over their viewing experience. Secondly, the ability to stream content on multiple devices, such as smartphones, tablets, and smart TVs, has made it easier for customers to consume OTT video content on their preferred devices. Lastly, the availability of personalized recommendations and curated content has enhanced the user experience, making it easier for customers to discover new shows and movies.
Trends in the market: One of the key trends in the OTT Video market in G7 countries is the increasing adoption of subscription-based models. Many OTT platforms offer subscription plans that provide users with unlimited access to a vast library of content for a fixed monthly fee. This model has gained popularity among customers who prefer a more cost-effective and hassle-free way of accessing their favorite shows and movies. Additionally, the rise of original content produced by OTT platforms has also contributed to the growth of the market. Original series and movies have not only attracted new subscribers but have also helped platforms differentiate themselves from traditional broadcasters.
Local special circumstances: Each G7 country has its own unique characteristics that influence the development of the OTT Video market. For example, in the United States, the presence of major Hollywood studios and production houses has fueled the growth of OTT platforms. These platforms have been able to secure exclusive rights to popular films and TV shows, attracting a large customer base. In Japan, the popularity of anime and manga has driven the success of OTT platforms, with many platforms offering a wide selection of anime content. In Germany, the strong preference for local content has led to the emergence of OTT platforms that focus on German-language films and TV shows.
Underlying macroeconomic factors: The growth of the OTT Video market in G7 countries can also be attributed to underlying macroeconomic factors. The increasing availability of high-speed internet and the widespread adoption of smartphones and other connected devices have created a conducive environment for the growth of OTT platforms. Additionally, the rising disposable incomes and changing lifestyles of consumers have also played a role in driving the demand for OTT video services. As consumers become more tech-savvy and prioritize convenience and flexibility, the OTT Video market in G7 countries is expected to continue its upward trajectory.
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.
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