Global OTT video episode and movie revenues will reach $129 billion in 2023; more than double the $53 billion recorded in 2017, according to Digital TV Research.
From 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 is down 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 ten countries in 2017.
“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,” said Simon Murray, principal analyst at Digital TV Research. “We forecast that revenues in the US will more than double between 2017 and 2023 – adding nearly $25 billion to reach $48 billion.”
China will also add a staggering sum over the same period – $17 billion to nearly triple its revenues to $26 billion. China’s share of the world’s total will climb from 16% in 2017 to 20% in 2023.
SVOD became the largest OTT revenue source in 2016 by overtaking AVOD. SVOD’s share of the total will increase: from 47% in 2017 to 53% in 2023. This means that SVOD revenues will climb by nearly $44 billion between 2017 and 2023 to take the total to $69 billion.
Despite losing market share to SVOD, there is still plenty of growth left in the AVOD sector. AVOD revenues will increase by $27 billion between 2017 and 2023 to take its total to $47 billion (36% of total revenues).