Global OTT revenues are expected to reach $129 billion by 2023. This is more than double the $53 billion recorded in 2017, and roughly $16 billion will be added in 2018 alone.
Of the 138 countries covered in the Global OTT TV & Video Forecasts report, the top five will command 69% of worldwide revenues by 2023. This proportion has decreased from 73% in 2017; revealing that the rest of the world will grow at a faster rate. OTT revenues will exceed $1 billion in 17 countries by 2023; up from 10 countries in 2017.
Source: Digital TV Research
The Principal Analyst at Digital TV Research, Simon Murray, commented: “No prizes for guessing that the US will remain the dominant territory by some distance. However, its share of global revenues will fall from 43% in 2017 to 37% by 2023. We forecast that revenues in the US will more than double between 2017 and 2023 – adding nearly $25 billion to reach $48 billion.”
Over the same period, China will also add a significant sum of money – $17 billion to nearly triple its revenues to $26 billion. China’s share of the world’s total will grow from 16% in 2017 to 20% in 2023.
SVOD [subscription video on-demand] became the largest OTT revenue source in 2016, overtaking AVOD. SVOD’s share of the total will increase from 47% (2017) to 53% (2023). This predicts that SVOD revenues will climb by nearly $44 billion between 2017 and 2023 resulting in the total being $69 billion.
Despite losing market share to SVOD, there is still plenty of growth left in the AVOD sector. AVOD revenues are expected to increase by $27 billion between 2017 and 2023, which will take its total to $47 billion (36% of total revenues).
Source: Digital TV News
Source: Digital TV News
