Editoria e Media
Subscription Services and Advertising to Push OTT Video Revenue Over US$200 Billion by 2024
"Cord-cutting is often regarded as a consequence of expanding OTT consumption, but the market dynamics are more complex, particularly when one considers how the pay TV industry has embraced OTT as a complement and value-additive, rather than strict competition. Over time, we expect the traditional pay TV offer to continue to evolve and become indistinguishable from a pure OTT package of services," comments Michael Inouye , Principal Analyst at ABI Research.
Even with over 700 million OTT SVOD subscriptions in 2019, the pay TV market, with over 1 billion subscriptions, is still larger. And, while growth rates are slower (and declining in North America ), the overall market is still expanding. The attention paid to low latency video is testament to how OTT video is growing but also highlights the ongoing opportunities with live/linear programming.
"Increasingly, we're seeing more solutions and conversations about bringing content and services together. This includes pay TV and OTT bundles and extends to cross-platform advertising, analytics, and customer/service management. Ultimately it makes the market more accessible to a wider range of companies and expands the potential video touchpoints, particularly as new technologies like 5G, smart home, and Augmented/Virtual Reality play larger roles," Inouye concludes.
These findings are from ABI Research's OTT and Multiscreen Video and Digital Content market data report. This report is part of the company's Video and Cloud Services research service, which includes research, data, and Executive Foresights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.
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