Global OTT User Base to Reach 3.71 Billion, Revenue Nears $300 Billion
This article compiles over 49 global OTT statistics from 2024 projections, detailing user base, revenue, and growth trends across various segments of the streaming industry. Key projections indicate the global OTT user base will reach 3.71 billion in 2024, with total industry revenue estimated at $295.40 billion.
Key Takeaways
- Global OTT user base projected to reach 3.71 billion in 2024, up from 3.50 billion.
- Total OTT industry revenue anticipated at $295.40 billion in 2024, with video advertising alone contributing $176.60 billion.
- The OTT content market is forecast to grow from $204 billion in 2022 to $1.94 trillion by 2032, a CAGR of 22.8%.
- Netflix had 247.2 million paid subscribers worldwide in Q3 2023, while Amazon Prime Video reported 302.9 million global users.
- Disney+ reached 150.2 million subscribers in early 2024, generating over $8.4 billion in annual revenue in 2023.
Why It Matters
The sustained growth in both OTT users and revenue underscores the market's continuing expansion and its integral role in media consumption. The projected near-trillion-dollar valuation by 2032 reinforces the long-term investment opportunities and strategic importance of the sector. The shift towards AVOD, with a 5% year-over-year uptick in demand, highlights the growing importance of ad-supported models. As user penetration rises to 54.7% by 2028, content providers and platforms must track regional growth, particularly the Asia Pacific region's projected 90% increase in OTT TV subscriptions and movie revenue, to inform market entry and monetization strategies.
Read full article at vplayed.com
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