Global online TV episode and movie revenues are forecast to reach $159 billion in 2024, according to Digital TV Research, more than double the $68 billion recorded in 2018.
About $17 billion is expected to be added in 2019 alone.
SVOD became the largest OTT revenue source in 2014 by overtaking AVOD. SVOD revenues are predicted to climb by $51 billion between 2018 and 2024, taking its total to $87 billion.
Simon Murray, principal analyst at Digital TV Research, said: “Despite losing market share to SVOD, there is still plenty of AVOD growth left. AVOD revenues will increase by $34 billion between 2018 and 2024 to take its total to $56 billion. Several high-profile AVOD-funded platforms are due to start operations soon.”
Of the 138 countries covered in the report, the top five will command 68 percent of the global revenues by 2024. This proportion is down from 71 percent in 2018; revealing that the rest of the world will grow at a faster rate. OTT revenues will exceed $1 billion in 18 countries by 2024, up from 10 countries in 2018. The U.S. will remain the dominant territory by a wide margin, with its share of global revenues staying just under 40 percent. The forecast is that revenues in the U.S. will more than double between 2018 and 2024, adding nearly $34 billion to reach $61 billion. China will add $15 billion over the same period to reach $27 billion. The U.S. and China will control 56 percent of the global total by 2024.