PwC sees US OTT revenue doubling by 2029
PwC's Global Entertainment & Media Outlook 2025-2029 forecasts the US OTT market will grow at a 5.9% CAGR from US$61.9 billion in 2024 to US$112.7 billion by 2029, maintaining its position as the world's largest OTT market. The report also projects strong growth for the US internet advertising market at an 8.5% CAGR to reach US$389.1 billion by 2029, with connected TV (CTV) advertising outpacing overall growth, and highlights AI's increasing impact on various E&M sectors.
Key Takeaways
- US OTT revenue is forecast to rise from $61.9 billion in 2024 to $112.7 billion in 2029.
- PwC says the US OTT market will grow at a 5.9% CAGR and remain the world’s largest OTT market.
- US internet advertising reached $258.6 billion in 2024 and is projected to hit $389.1 billion by 2029.
- CTV advertising is growing faster than the overall US internet advertising market.
- PwC says generative AI is moving from experimentation to wider enterprise and consumer adoption in US media and entertainment.
Why It Matters
PwC’s forecast points to a larger US streaming monetization base over the next five years, with OTT revenue nearly doubling while internet advertising keeps expanding. The ad side matters for streaming because CTV is growing faster than the broader US internet ad market, which reinforces the role of video inventory in digital budgets. PwC also ties that growth to AI, noting generative models are already affecting creative processes and ad relevance. Watch the gap between overall internet ad growth and CTV growth, plus how much of that momentum shows up in 2029 revenue rather than just 2024 cyclical lift.
Read full article at pwc.com