Market Insights Advertising & Media Media TV & Video

OTT Video - Ghana

Ghana

Revenue in the OTT Video market market in Ghana is forecasted to reach US$130.30m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 11.26%, leading to a projected market volume of US$222.10m by 2029.
The largest market is Video Streaming (SVoD) with a market volume of US$103.90m in 2024.
When compared globally, the in the United States is expected to generate the most revenue (US$132,900.00m in 2024).
In Ghana's OTT Video market market, the number of users is projected to reach 14.8m users by 2029.
User penetration is set to be 31.6% in 2024 and is forecasted to reach 38.8% by 2029.
The average revenue per user (ARPU) in the OTT Video market market is projected to be US$11.86 in 2024.
Ghana's OTT Video market is experiencing rapid growth fueled by increasing internet penetration and demand for local content.

Key regions: United Kingdom, Germany, Asia, South Korea, Japan

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Analyst Opinion

The OTT Video market in Ghana is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this growth.

Customer preferences in Ghana are shifting towards digital streaming services. With the increasing availability of high-speed internet and the proliferation of smartphones, more Ghanaians are opting for OTT Video platforms to consume their favorite movies and TV shows. This shift in preference can be attributed to the convenience and flexibility offered by these platforms, allowing users to watch content anytime and anywhere.

One of the key trends in the OTT Video market in Ghana is the emergence of local content. Ghanaian filmmakers and content creators are recognizing the potential of OTT platforms to reach a wider audience and are producing original content specifically tailored to the local market. This trend not only boosts the local film industry but also caters to the preferences of Ghanaian viewers who appreciate content that reflects their culture and experiences.

Another trend in the market is the increasing competition among OTT Video providers. International players such as Netflix and Amazon Prime Video are expanding their presence in Ghana, while local platforms are also gaining traction. This competition is driving innovation and improvement in the quality of content and user experience, ultimately benefiting the consumers.

Local special circumstances in Ghana, such as the relatively low penetration of traditional pay-TV services, contribute to the growth of the OTT Video market. Many Ghanaians do not have access to cable or satellite TV, making OTT platforms the primary source of entertainment for a large portion of the population. Additionally, the affordability of smartphones and data plans enables more Ghanaians to access OTT Video services, further driving market growth.

Underlying macroeconomic factors also play a role in the development of the OTT Video market in Ghana. The country's growing middle class and increasing disposable income are enabling more people to afford OTT subscriptions. Additionally, the government's efforts to improve internet infrastructure and promote digital inclusion are creating a conducive environment for the growth of the OTT Video market.

In conclusion, the OTT Video market in Ghana is experiencing significant growth and development due to shifting customer preferences, the emergence of local content, increasing competition, local special circumstances, and underlying macroeconomic factors. As more Ghanaians embrace digital streaming services, the market is expected to continue its upward trajectory.

Methodology

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.