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OTT spend set to propel video and global TV spendings to $559BN by 2022 16 August 2018

OTT spend set to propel video and global TV spendings to $559BN by 2022

According to reports, the global consumer and advertising spend on TV and video is predicted to rise to $559 billion in 2022, up from $490 billion in 2017. The revenue generated from over-the-top services such as YouTube, Facebook, iflix, iTunes, Netflix, Google Play, Amazon Prime Video, DirecTV Now, Hulu, NOW TV, and other online video streaming services is likely to contribute 90% to this growth.

The report also states that by 2022, North America will continue to be the largest source of TV and video market with 38.7% of global consumer and advertising spend on TV and video. The growing number of online streaming devices, adoption of OTT TV and video services are few factors driving the future revenue.

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