OTT Video - Greece | Statista Market Forecast

In Greece, revenue in the OTT Video market market is projected to reach US$302.50m in 2024.
Revenue in this market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 4.69%, resulting in a projected market volume of US$380.30m by 2029.
The largest market within Greece's OTT Video market market is OTT Video Advertising, which is anticipated to have a market volume of US$160.10m in 2024.
In a global context, the majority of revenue will be generated the United States, accounting for US$133.70bn in 2024.
In Greece's OTT Video market market, the number of users is expected to reach 5.2m users by 2029.
User penetration in Greece will be 47.9% in 2024 and is projected to increase to 51.1% by 2029.
The average revenue per user (ARPU) in Greece's OTT Video market market is forecasted to amount to US$61.34 in 2024.
The usage share of Disney+ is estimated to be 31.0% of the Videostreaming (SVoD) market in Greece for the year 2023.
In Greece, the demand for localized OTT video content is rapidly increasing, reflecting a shift towards culturally relevant programming among consumers.

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 Greece is experiencing significant growth and development.

Customer preferences: Greek consumers are increasingly turning to OTT Video platforms for their entertainment needs. The convenience and flexibility of streaming services, combined with a wide variety of content options, are appealing to customers. Additionally, the affordability of OTT Video subscriptions compared to traditional cable or satellite TV packages is attracting a growing number of subscribers.

Trends in the market: One major trend in the Greek OTT Video market is the rise of local content. Greek consumers are showing a strong preference for content that is relevant to their culture and language. As a result, OTT Video platforms are investing in producing and acquiring Greek-language content to cater to this demand. This trend is not unique to Greece, as it is seen in other markets as well, where local content is gaining popularity. Another trend in the market is the increasing adoption of mobile devices for video streaming. With the widespread availability of high-speed internet and the growing penetration of smartphones and tablets, Greek consumers are consuming OTT Video content on-the-go. This has led to the development of mobile-friendly streaming platforms and the optimization of content for smaller screens.

Local special circumstances: The Greek OTT Video market is also influenced by specific local circumstances. One of these is the high piracy rate in the country. Due to the availability of unauthorized streaming websites and the lack of strict enforcement of copyright laws, piracy remains a challenge for OTT Video providers in Greece. However, efforts are being made to combat piracy through collaborations between content creators, platforms, and law enforcement agencies.

Underlying macroeconomic factors: The development of the OTT Video market in Greece is also influenced by macroeconomic factors. The country has faced economic challenges in recent years, leading to a decrease in disposable income for many consumers. As a result, cost-conscious consumers are seeking affordable entertainment options, making OTT Video platforms an attractive choice. Furthermore, the COVID-19 pandemic has accelerated the growth of the OTT Video market in Greece, as it has in many other countries. With lockdowns and social distancing measures in place, consumers have turned to streaming services for entertainment while staying at home. This has led to an increase in subscriptions and usage of OTT Video platforms. In conclusion, the OTT Video market in Greece is experiencing significant growth and development. Customer preferences for convenience, affordability, and local content are driving the adoption of streaming services. The rise of mobile streaming and efforts to combat piracy are also shaping the market. Additionally, macroeconomic factors such as economic challenges and the impact of the COVID-19 pandemic are influencing the growth of the OTT Video market in Greece.

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.