Analyst: AVoD revenues to reach $56bn by 2024
June 27, 2019
AVoD [advertising expenditure attributed to OTT TV episodes and movies] will more than double between 2018 and 2024 to reach $56 billion (€49.3bn) across 138 countries, according to the Global AVOD Forecasts report from analyst firm Digital TV Research. Online TV and video advertising has been considerably boosted in recent years by the rapid growth in mobile advertising.
AVoD in the Asia Pacific region is long-established. It reached $10.73 billion by 2018 – or 49 per cent of the global total. Despite more than doubling to $25.14 billion by 2024, Asia Pacific’s share will fall to 45 per cent – revealing that other regions will grow quicker.
From the $34.42 billion additional revenues to be generated between 2018 and 2024, Asia Pacific will contribute $14.41 billion and North America $14.20 billion. All of the other regions will at least double their totals.
“China is the largest AVoD country – commanding 36 per cent of the 2018 global total, with $7.78 billion,” explained Simon Murray, Principal Analyst at Digital TV Research. “Similar to much of Asia, most OTT viewing in China is on mobile phones to AVoD-supported platforms. China will still generate 29 per cent of the global total by 2024 with $16.60 billion.”
“However, the US will become the AVoD leader by 2023. Several large platform launches are expected in the near future in the US. The US will more than triple its AVoD total between 2018 and 2024 to $19.23 billion – or 34 per cent of the global total.”