Global OTT Content Market to Top $276B by 2028

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SEATTLE—The global OTT market is set to continue its rapid growth, jumping from $101.2 billion in 2021 to more than $276 billion by 2028, according to a new report from Coherent Market Insights. 

It has predicted that the global OTT market will grow by a CAGR of 14.5 % over the forecast period from 2021 to 2028. 

Key drivers for the growth will be: increasing adoption of smart devices; greater access to high speed internet service; and the growth of more flexible OTT services that are easier to use. 

The researchers noted that the rising adoption of subscription-based video on demand (SVOD) in emerging economies will present lucrative growth opportunities and that mergers and acquisitions will create additional business opportunities. 

“Key companies in the over-the-top content services are focused on mergers and acquisitions, in order to expand their presence and gain a competitive advantage in the market,” the researchers said, pointing to Amazon’s proposed deal to acquire MGM Studios for US$ 8.45 billion and the $43 billion WarnerMedia, Discovery merger as examples of the trend. 

George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.