Advertisement
Sunday, Oct 24, 2021
Outlook.com
Outlook.com

Global OTT revenues to reach $159bn by 2024: Report

Global OTT revenues to reach $159bn by 2024: Report
outlookindia.com
1970-01-01T05:30:00+0530
Global OTT revenues to reach $159bn by 2024: Report

London, Sep 4 (IANS) The global revenues from streaming video services will reach $159 billion in 2024 -- more than double the figure of $68 billion in 2018, data from Digital TV Research has revealed.

In 2019, the global revenue total is projected to reach about $85 billion.

Subscription streaming services, which overtook ad-supported services in 2014 to become the largest OTT revenue source, will continue to take more share of the market.

Streaming video on demand (SVOD) revenues will climb by $51 billion between 2018 and 2024 to take its total to $87 billion.

"China and the US together accounted for 63 per cent of the global total in 2018. China overtook the US in 2018 to become the gross SVOD subscription leader," said Simon Murray, Principal Analyst at Digital TV Research.

China added nearly 60 million subscriptions in 2018 alone, with the US up by 27 million.

"India nearly doubled its subscription base," Murray added.

Digital TV Research looked at 138 countries for the report.

The US will still be the top territory in the global OTT marketplace. The report predicted that revenues in the US will more than double between 2018 and 2024 -- adding nearly $34 billion to reach $61 billion.

China will add $15 billion over the same period to reach to $27 billion. The US and China will control 56 per cent of the global total by 2024, according to the study.

According to Counterpoint Research, Hotstar leads the Indian OTT video content market, followed by Amazon''s Prime Video, SonyLIV, Netflix, Voot, Zee5, ALTBalaji, and ErosNow in terms of the percentage of respondents subscribed to each platform.

--IANS

wh/na


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: IANS

More from Website

Chelsea Humiliate Norwich With 7-0 Thrashing In English Premier League

Chelsea Humiliate Norwich With 7-0 Thrashing In English Premier League

Norwich's misery was compounded when center back Ben Gibson was sent off for collecting a second yellow card in the 65th minute when the score was 5-0.

ICC T20 World Cup: England Hammer Defending Champions West Indies By Six Wickets

ICC T20 World Cup: England Hammer Defending Champions West Indies By Six Wickets

It was expected to be an exciting battle between the West Indies' flair and a capable England attack but was reduced to a no-contest following a horrendous batting display by the defending champions.

Salman Khan Slams ‘Bigg Boss 15’ Contestants Karan Kundrra And Jay Bhanushali

Salman Khan Slams ‘Bigg Boss 15’ Contestants Karan Kundrra And Jay Bhanushali

Host Salman Khan in the ‘Weekend Ka Vaar’ episode has taken to teach all the contestants a lesson and give them a taste of their own medicine.

More from Outlook Magazine

My Name Is Khan: The Face That Launched A Thousand Products

My Name Is Khan: The Face That Launched A Thousand Products

Behind SRK’s lover-boy image lies instability—sensitive to social, cultural and political change.

A Fanboy’s Bollywood: Before And After The Khans

A Fanboy’s Bollywood: Before And After The Khans

How the larger-than-life Hindi film hero of ­yesteryears gave way to the relatable charm of Shah Rukh and the other Khans.

A Passage To India: Shah Rukh Khan Through The Eyes Of His Greatest American Fan

A Passage To India: Shah Rukh Khan Through The Eyes Of His Greatest American Fan

Superstar Shah Rukh Khan has grown beyond the confines of Bollywood and India to find fame and fans worldwide, writes Beth Watkins.

Advertisement

Outlook Newsletters

Advertisement
Advertisement