Written by: Roshan Dwivedi
Global OTT revenue is estimated to touch $129 billion in 2023 if reports are to believed. The forecast is more than double than the numbers recorded in 2017. In fact, $16 billion will be only added this year alone.
According to Global OTT TV & Video Forecasts, out of the 138 countries covered, the top five will command 69% of worldwide revenues by 2023. While the proportion is down from 75% in 2017, SVOD subscription will grow exponentially in the rest of the world. China’s share of the world’s total will go up from 16% in 2017 to 20% in 2023.
Simon Murray, the Principal Analyst at Digital TV Research, quoted, “No prizes for guessing that the US will remain the dominant territory by some distance. However, its share of global revenues will fall from 43% in 2017 to 37% by 2023. We forecast that revenues in the US will more than double between 2017 and 2023 – adding nearly $25 billion to reach $48 billion.”