Expansion in both mature and emerging OTT markets around the world is expected to add more than $35.4 billion in new revenue by 2021, bringing the market to $64.78 billion, up 120% from $29.4 billion in 2015.
U.S. and Canadian revenues for OTT services are forecast to increase some 58% to $24.39 billion in 2021, up from $15.39 billion in 2015, as the region’s subscriber numbers approach 110 million. The forecast, from Digital TV Research, say U.S. revenues will top $24.3 billion and Canada will exceed $1.4 billion.
Over-the-top TV and video revenues will more than triple by 2021 for 17 countries in the Asia Pacific region, a new study says, reaching more than $18.4 billion, up from $5.7 billion in 2015, with China becoming the market leader in the region.
In 2015, the average online video viewer watched video on 3.1 devices, up 29% from 2013 and, according to a report from Hub Research, they chose to watch subscription video on demand (SVOD) most often.
Coming out of NAB it was obvious 2016 was the year of OTT for broadcasters, but it appears publishers, too, see going direct to consumers with video as an opportunity that shouldn’t be missed.
The latest player? Time Inc., which today introduced the People/Entertainment Weekly Network, a free, advertiser-supported streaming video service that will broadcast original, long-form celebrity, pop culture, lifestyle and human interest series, specials and live event coverage.