MIDDLESEX, England—The rise of OTT is not slowing down according to a new report from Digital TV Research, which projects the global online TV episodes and movie revenues to more than double from its 2018 numbers of $68 billion to $159 billion in 2024. That growth is expected to start in earnest in 2019, with $17 billion added to the total.
Digital TV Research gathered info from 138 countries for this report. Of those countries, the top five will contribute 68% of all global revenues by 2024, down from the 71% the top five countries provided in 2018. This signifies that more countries are boosting their OTT revenue, with 18 expected to exceed $1 billion in 2024—up from 10 in 2018.
Of all the countries, the U.S. is projected to remain at the top, with its global revenues coming just under 40%. In the five years covered in Digital TV Research’s report, the U.S. is forecasted to add nearly $34 billion dollars, bringing its total to $61 billion.
China is one of the top growers, however, with the country expected to add $15 billion over the same time frame, bringing its total to $27 billion. Combined, the U.S. and China would control 56% of the global total by 2024.
Additional findings included the growth of AVOD services. With a number of high-profile AVOD services expected to start in the near future, AVOD revenues will increase $34 billion between 2018 and 2024.
The full report can be viewed on Digital TV Research’s website.