OTT Video - Lithuania | Statista Market Forecast

In Lithuania, revenue in the OTT Video market market is projected to reach US$54.44m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.19%, which will result in a projected market volume of US$73.50m by 2029.
The largest market within this market in Lithuania is OTT Video Advertising, which will have a market volume of US$36.45m in 2024.
In a global context, the highest revenue will be generated the United States, amounting to US$133.70bn in 2024.
Within the OTT Video market market in Lithuania, the number of users is anticipated to reach 1.3m users by 2029.
User penetration in Lithuania will be 46.8% in 2024 and is expected to increase to 48.7% by 2029.
The average revenue per user (ARPU) in Lithuania's OTT Video market market is projected to be US$43.16 in 2024.
Furthermore, the usage share of Netflix is estimated to account for 55% of the Videostreaming (SVoD) market in Lithuania for the year 2023.
In Lithuania, the OTT video market is experiencing robust growth, driven by increasing demand for localized content and competitive pricing strategies among providers.

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 Lithuania has been experiencing significant growth in recent years. Customer preferences have shifted towards online streaming services, leading to an increase in the demand for OTT video platforms. This trend can be attributed to several factors, including the convenience and flexibility offered by these platforms, as well as the growing availability of high-speed internet connections.

Customer preferences: Lithuanian consumers have shown a strong preference for online streaming services over traditional television. This can be attributed to the convenience and flexibility offered by OTT video platforms. With these platforms, consumers have the freedom to watch their favorite movies and TV shows at any time and from any location. Additionally, the ability to access a wide range of content from various genres has also contributed to the popularity of OTT video services.

Trends in the market: One of the key trends in the OTT Video market in Lithuania is the increasing number of subscription-based streaming platforms. These platforms offer a vast library of content, including both local and international movies and TV shows. The availability of original content produced by these platforms has also been a major driver of their popularity. This trend is expected to continue as more streaming platforms enter the market and compete for subscribers. Another trend in the market is the rise of mobile streaming. With the increasing penetration of smartphones and the availability of high-speed mobile internet, more consumers are opting to watch videos on their mobile devices. This has led to the development of mobile-friendly streaming platforms and the optimization of content for smaller screens. As a result, mobile streaming is expected to become a dominant force in the OTT Video market in Lithuania.

Local special circumstances: Lithuania has a highly developed telecommunications infrastructure, with a high-speed internet connection available to a large portion of the population. This has facilitated the growth of the OTT Video market, as consumers have the necessary infrastructure to access streaming services. Additionally, the relatively low cost of internet services in Lithuania has also contributed to the popularity of OTT video platforms.

Underlying macroeconomic factors: The growth of the OTT Video market in Lithuania can also be attributed to the country's strong economic performance. With a stable economy and a high standard of living, consumers in Lithuania have the disposable income to spend on entertainment services. This has created a favorable environment for the growth of the OTT Video market. In conclusion, the OTT Video market in Lithuania has been experiencing significant growth due to the preferences of customers for online streaming services. The convenience and flexibility offered by these platforms, along with the availability of high-speed internet connections, have contributed to the popularity of OTT video services. The market is expected to continue growing, driven by the increasing number of subscription-based platforms and the rise of mobile streaming.

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.