According to Digital TV Research, global online TV episode and movie revenues will reach $129 billion in 2023, more than double the $53 billion recorded in 2017.
The Global OTT TV & Video Forecasts report estimates that about $16 billion will be added this year alone.
From the 138 countries covered in the report, the top five—the U.S., China, the U.K., Japan and Germany—will account for 69 percent of worldwide revenues by 2023. This proportion is down from 73 percent in 2017, meaning that the rest of the world will grow at a faster rate.
OTT revenues will exceed $1 billion in 17 countries by 2023, up from 10 countries in 2017.
China will add $17 billion to nearly triple its revenues to $26 billion. China’s share of the world’s total will climb from 16 percent in 2017 to 20 percent in 2023.
Simon Murray, principal analyst at Digital TV Research, said: “No prizes for guessing that the U.S. will remain the dominant territory by some distance. However, its share of global revenues will fall from 43 percent in 2017 to 37 percent by 2023. We forecast that revenues in the U.S. will more than double between 2017 and 2023—adding nearly $25 billion to reach $48 billion.”