Global online TV episode and movie revenues will reach $129 billion (€110.2bn) in 2023; more than double the $53 billion recorded in 2017. About $16 billion will be added in 2018 alone.
From the 138 countries covered in the Global OTT TV & Video Forecasts report from Digital TV Research, the top five will command 69 per cent of worldwide revenues by 2023. This proportion is down from 73 per cent 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.
“No prizes for guessing that the US will remain the dominant territory by some distance,” commented Simon Murray, Principal Analyst at Digital TV Research. “However, its share of global revenues will fall from 43 per cent in 2017 to 37 per cent 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.”
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 per cent in 2017 to 20 per cent in 2023.
SVoD [subscription video on-demand] became the largest OTT revenue source in 2016 by overtaking AVoD. SVoD’s share of the total will increase: from 47 per cent in 2017 to 53 per cent 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 per cent of total revenues).