OTT Video - Nordics | Statista Market Forecast

In the Nordics, revenue in the OTT Video market market is projected to reach US$3.41bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.86%, which will result in a projected market volume of US$4.53bn by 2029.
The largest market within the Nordics is Video Streaming (SVoD), with a market volume of US$1.62bn in 2024.
In global comparison, the majority of revenue will be generated the United States, which is expected to reach US$133.70bn in 2024.
Within the Nordics' OTT Video market market, the number of users is anticipated to amount to 18.8m users by 2029.
User penetration in the Nordics will be 62.7% in 2024 and is projected to increase to 65.3% by 2029.
The average revenue per user (ARPU) in the OTT Video market market in the Nordics is projected to reach US$193.70 in 2024.
In the Nordics, the OTT video market is increasingly characterized by a surge in local content production, reflecting a strong demand for regional storytelling.

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 Nordics has been experiencing significant growth in recent years, with a steady increase in the number of subscribers and the consumption of online video content. Customer preferences in the Nordics are shifting towards on-demand video streaming services, as consumers seek convenience and flexibility in their entertainment options. The region has a high internet penetration rate and a tech-savvy population, making it an ideal market for OTT Video providers. Additionally, the popularity of smartphones and tablets has contributed to the rise in mobile video consumption, further driving the demand for OTT Video services. Trends in the market indicate a shift towards local content and original productions. Nordic consumers have shown a strong preference for content that is relevant to their culture and language. This has led to the emergence of local OTT Video platforms that focus on providing Nordic content, including TV shows, movies, and documentaries. Furthermore, international providers are also recognizing the importance of catering to local preferences and are investing in producing original Nordic content to attract and retain subscribers. Local special circumstances in the Nordics also contribute to the growth of the OTT Video market. The region has a strong tradition of public broadcasting, with public service media playing a significant role in shaping the media landscape. This has created a demand for high-quality content and has set a high standard for production values. OTT Video providers in the region are responding to this demand by offering premium content and investing in high-quality productions. Underlying macroeconomic factors, such as the high disposable income and strong purchasing power of consumers in the Nordics, have also contributed to the growth of the OTT Video market. The region has a well-developed infrastructure and a high standard of living, which allows consumers to afford and access online video streaming services. Additionally, the prevalence of digital payment methods and the ease of online transactions have made it convenient for consumers to subscribe to OTT Video platforms. In conclusion, the OTT Video market in the Nordics is experiencing significant growth due to customer preferences for on-demand video streaming services, the shift towards local content and original productions, local special circumstances that prioritize high-quality content, and underlying macroeconomic factors such as high disposable income and strong purchasing power. This trend is likely to continue as the demand for online video content in the region continues to grow.

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.