Julia Stoll
Research expert covering TV and video media
Video streaming worldwide - statistics & facts
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.
OTT overview
Thanks to technological advancements and broadcast innovation, global demand for OTT content has never been greater. As OTT services allow users to stream media content via the internet without the need for cable or satellite subscriptions, they have become an attractive alternative for audiences wanting to bypass geographic restrictions and broadcast schedules alike. As of June 2024, the number of OTT video users worldwide stood at around 3.9 billion, with penetration rates surging in countries like the United Kingdom, Canada, and the United States. In these developed digital markets, consumers are gradually cutting the cord and switching away from traditional pay TV consumption in favor of more flexible, affordable, and expansive video formats. Unsurprisingly, the highest share of OTT revenue is generated by SVOD channels.SVOD market trends and key players
Subscription video-on-demand (SVOD), which allows users to stream unlimited digital video content at a fixed monthly rate, has become a popular pastime for millions of TV and movie lovers. In 2023, the global number of SVOD subscriptions amounted to 1.3 billion, a figure that is projected to grow by over 300 million within the next four years. SVOD revenue is highest in the United States, where most major streaming services such as Netflix, Amazon Prime Video, and Disney+ are readily available. However, rising subscription costs and content divided across several platforms are also leading to subscriber churn among several providers.Several monetization models to choose from
While SVOD services provide around-the-clock access to a wide range of video entertainment, users can also choose from various other video streaming options. These business models include pay-per-view (TVOD), broadcaster video-on-demand (BVOD), ad-supported streaming, as well as hybrid video-on-demand platforms such as Max, Disney+, and Netflix, and since early 2024 also Amazon Prime Video. Furthermore, with bundles and partnerships recently flooding the market and seeing growth in demand, dynamic changes in viewing preferences and video streaming behavior are becoming more visible than ever.
