OTT Platform Statistics By Revenue, Users, Regions, Subscribers, Types and Trends

Introduction

OTT Platform Statistics: Over-the-top media service relates to a media service offered directly to viewers through the Internet, basically provided by third parties without the control or involvement of an Internet service provider (ISP). The term OTT is synonymous with subscription-based video-on-demand (SVOD) services that provide access to television and film content, such as Amazon Prim

OTT passes around satellite television, cable, and broadcast platforms, and the media from those organizations have traditionally acted as distributors or controllers of the content. We shall shed more light on “OTT Platform Statistics” through this article.

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• Revenue in the OTT video segment is projected to reach USD 316.10 billion in 2023.
• The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 10.01% from 2023 to 2027, reaching USD 462.90 billion by 2027.
• OTT video advertising will hit USD 205.10 billion in 2023.
• 59% of Americans will only pay USD 20 a month for streaming TV services, and 75% will only pay USD 30. The US is set to lead the global OTT market, generating USD 137.8 billion in 2023.
• Americans are spending more time streaming OTT video services, from 44 minutes per day in 2018 to 70 minutes per day in 2022.
• Globally, the number of OTT users is predicted to reach 4.22 billion by 2027. User penetration is estimated at 45.7% in 2023 and will rise to 53.0% by 2027.
• OTT Platform Statistics stated that the average revenue per user (ARPU) is projected to be USD 90.14 in 2023.
• OTT revenue is expected to exceed USD 476 billion by 2027.
• Revenue from video advertising (AVOD) is forecasted to top USD 318 billion by 2027.
• Revenue from subscription streaming services (SVOD) is projected to surpass USD 139 billion by 2027.
• Revenue from pay-per-view (TVOD) is expected to go over USD 12 billion by 2027.
• Revenue from video downloads is likely to exceed USD 5 billion by 2027.
• AVOD is the biggest part of the OTT market, with a value of USD 180 billion in 2022.
• In the US, OTT revenue is USD 119 million.
• The average revenue per user from SVOD is USD 200.
• Pay-per-view (TVOD) contributes 5% to total OTT revenue.
• Video downloads make up 3% of total OTT revenue.
• Global revenue for traditional TV is expected to decrease at a -0.8% CAGR, from USD 231 billion in 2021 to USD 222.1 billion in 2026.
• By 2026, around 25% of the global population is expected to use VR and AR technology.
• AVOD makes up 52% of total OTT revenue.
• The OTT SVOD market is expected to grow by 52% by 2025.
• SVOD accounts for 40% of total OTT revenue.

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Different Types Of OTT Platforms

The different kinds of OTT (Over-The-Top) platforms serve various entertainment purposes:

• Video Streaming Platforms: These are the most well-known OTT services. They let people watch a wide range of video content, like movies, TV shows, documentaries, and other on-demand videos. Usually, these services are subscription-based. Popular examples are Disney+, Hulu, and Netflix.
• Music Streaming Platforms: Platforms like Spotify and YouTube Music fit into this category. They allow users to stream music, create and listen to playlists, enjoy podcasts, and more, all online. This has greatly reduced the need for traditional physical formats like CDs. These platforms often offer personalized music experiences with custom playlists and suggestions.
• Live TV Streaming: This type of OTT service focuses on live content. Users can watch events as they happen, such as live news broadcasts, sports events like football games, and various live entertainment shows. This brings the immediacy and excitement of live TV to the Internet.
• Gaming OTT Platforms: A newer addition to the OTT world, these platforms mix traditional entertainment content with interactive gaming experiences. Users can both watch shows and play games on the same service. An example is Netflix, which launched Netflix Games in 2021, aimed at mobile users.

The rise and variety of OTT platforms show a big change in how people consume entertainment. They offer more flexibility, variety, and personalized content across different types of media.

OTT Platform Background

The OTT (Over-The-Top) industry is now a crucial part of digital media, and it’s only getting bigger. Statista’s report shows that revenue in the OTT video segment will reach USD 316.10 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 10.01% from 2023 to 2027. By 2027, the market volume is expected to be USD 462.90 billion.

This growth isn’t by chance. Personalized content and data-driven recommendations are key to OTT streaming’s success and will be vital for these projections. Providers investing in advanced algorithms and machine learning can offer tailored experiences, boosting user satisfaction and retention.

“Watch next” recommendations are a well-known personalization feature in OTT videos, but advertising also plays a big role. Interactive and personalized ads can improve the viewing experience. Statista’s data shows OTT video advertising will reach USD 205.10 billion in 2023, making it the industry’s largest segment.

Personalized OTT advertising is highly effective for reaching specific audiences. These ads are crucial for supporting free OTT streaming services. A survey by The Trade Desk found that 59% of Americans will only pay USD 20 a month for streaming TV services, and 75% will only pay USD 30 a month, allowing room for just one or two subscriptions in most budgets.

As popular platforms like Netflix, Apple TV, and Hulu raise prices, consumers need more money for new services. Selling ad space can help streaming platforms offer subscription-free, value-driven services.

OTT Platform Regional Statistics

(Reference: precedenceresearch.com)

• The global OTT video market is expected to reach USD 316.40 billion in revenue by 2024.
• It is projected to grow at a rate of 6.30% annually (CAGR 2024-2029), reaching USD 429.40 billion by 2029.
• The largest segment within this market is OTT video advertising, which, according to OTT Platform Statistics, is projected to be worth USD 191.30 billion in 2024.
• In 2024, the United States is expected to lead the market with USD 132.9 billion in revenue.
• The number of OTT video users worldwide is projected to reach 4.9 billion by 2029.
• User penetration is expected to be 50.6% in 2024, increasing to 61.0% by 2029.
• The average revenue per user (ARPU) in this market is expected to be USD 80.70 in 2024.
• The global OTT video market is seeing a rise in subscription-based services, with major streaming platforms competing for market dominance.

(Reference: globecast.com)

OTT Platform Statistics- Africa

• The OTT video market in Africa is expected to reach USD 3.90 billion in revenue by 2024.
• It is projected to grow at an annual rate of 8.30% from 2024 to 2029, reaching USD 5.81 billion by 2029.
• OTT Platform Statistics stated that the largest segment is Video Streaming (SVoD), with a market value of USD 2.71 billion in 2024.
• In Africa, the number of OTT video users is projected to reach 579.2 million by 2029.
• User penetration is forecasted to be 29.9% in 2024 and to increase to 40.0% by 2029.
• The average revenue per user (ARPU) in Africa’s OTT video market is expected to be USD 10.04 in 2024.
• Africa’s OTT video market is growing quickly, with more local content attracting more subscribers across the continent.

                    (Source: grandviewresearch.com)

OTT Platform- America

• Revenue in the OTT video market in the Americas is expected to reach USD 150.50 billion in 2024.
• The market is projected to grow at an annual rate of 6.83% from 2024 to 2029, reaching USD 209.40 billion by 2029.
• The largest segment is OTT video advertising, with a market value of USD 94.19 billion in 2024.
• According to OTT Platform Statistics, the number of OTT video users in the Americas is projected to reach 755.4 million by 2029.
• User penetration is forecasted to be 66.7% in 2024 and increase to 72.1% by 2029.
• The average revenue per user (ARPU) in the OTT video market in the Americas is estimated to be USD 222.00 in 2024.
• In the Americas, the OTT video market is seeing a big rise in original content from major streaming platforms like Netflix and Hulu.

Following is the Table showing OTT revenue in the US:

(Reference: displaydaily.com)

OTT Platform Statistics- Asia

• OTT Platform Statistics stated that the revenue in the OTT video market in Asia is expected to hit USD 104.20 billion in 2024.
• The market is predicted to grow at an annual rate of 5.93% from 2024 to 2029, reaching USD 139.00 billion by 2029.
• The biggest segment in Asia is OTT video advertising, which will have a market value of USD 67.00 billion in 2024.
• In Asia, the number of OTT video users is forecasted to reach 2.9 billion by 2029.
• User penetration is projected to be 49.8% in 2024 and rise to 62.5% by 2029.
• The average revenue per user (ARPU) in Asia’s OTT video market is expected to be USD 46.04 in 2024.
• In South Korea, local OTT platforms dominate, leading to tough competition for international streaming services.

OTT Platform Statistics- Australia & Oceania

• Revenue in the OTT video market in Australia and Oceania is expected to hit USD 5.63 billion in 2024.
• The market should grow at a yearly rate of 5.62% from 2024 to 2029, reaching USD 7.40 billion by 2029.
• The biggest segment is OTT video advertising, with a market size of USD 3.71 billion in 2024.
• In Australia and Oceania, the number of OTT video users is forecasted to reach 27.3 million by 2029.
• User penetration is expected to be 51.9% in 2024 and increase to 59.6% by 2029.
• The average revenue per user (ARPU) in this market is predicted to be USD 249.90 in 2024.
• Australia’s OTT video market is growing quickly, with more local content being produced and more partnerships between streaming services and regional broadcasters.

OTT Platform Statistics – Caribbean

• Revenue from the OTT Video market in the Caribbean is expected to reach USD 373.60 million in 2024.
• This revenue is predicted to grow at an annual rate of 4.10% from 2024 to 2029, bringing the market size to USD 456.80 million by 2029.
• The biggest segment in the Caribbean’s OTT Video market is OTT Video Advertising, which will have a market volume of USD 203.40 million in 2024.
• According to OTT Platform Statistics, the number of OTT Video users in the Caribbean is projected to reach 25.3 million by 2029.
• User penetration is forecast to be 48.6% in 2024 and is expected to rise to 60.8% by 2029.
• The average revenue per user (ARPU) in the Caribbean’s OTT Video market is estimated to be USD 18.96 in 2024.
• The OTT Video market in the Caribbean is growing quickly, with more local content being produced and partnerships forming with international streaming services.

(Source: spglobal.com)

OTT Platform Statistics- Europe

• Revenue in the OTT video market in Europe is expected to hit USD 52.21 billion in 2024.
• The market is projected to grow at an annual rate of 5.36% from 2024 to 2029, reaching USD 67.79 billion by 2029.
• The largest part of this market is OTT video advertising, which is expected to be worth USD 25.48 billion in 2024.
• In Europe, the number of OTT video users is forecasted to grow to 636.9 million by 2029.
• OTT Platform Statistics stated that user penetration is expected to be 67.4% in 2024 and 75.6% by 2029.
• The average revenue per user (ARPU) is projected to be USD 91.74 in 2024.
• In Europe, France is seeing a rise in local content production to meet increasing viewer demand.

OTT Market Revenue Statistics

• The global OTT video market is expected to reach USD 476 billion by 2027, doubling from USD 238 billion in 2021.
• The US makes up about 46% of this global market, as per the Global Logic survey.
• According to Statista, revenue in the OTT video market is projected to be USD 316.40 billion by 2024.
• According to Statista
• , the market is predicted to grow at an annual rate of 6.30% from 2024 to 2029, reaching USD 429.40 billion by 2029.
• The largest part of the market is OTT video advertising, which, according to OTT Platform Statistics, is expected to be worth USD 191.30 billion in 2024.

(Source: uscreen.com)

• Globally, the US is set to generate the most revenue, about USD 132.90 billion in 2024.
• The number of OTT video users is expected to hit 3.7 billion by 2025.
• User penetration is forecasted to be 60.8% in 2024 and grow to 70.1% by 2029.
• The average revenue per user (ARPU) in the OTT video market is expected to be USD 12.18 in 2024.
• OTT Platform Statistics stated that Global SVOD subscriptions are expected to grow by 321 million from 2023 to 2029, reaching 1.79 billion.
• The following table shows the predicted AVOD revenue created by different countries:

• The transactional video-on-demand (TVOD) market is projected to surpass USD 13 billion by 2028, with an annual growth rate of about 9%.
• According to Digital TV Research, revenue from global subscription video-on-demand (SVOD) is set to exceed USD 136 billion by 2027.
• According to OTT Platform Statistics, the ARPU for video streaming (SVOD) is projected to be USD 265.00 in 2024.
• Forbes states that a
• almost all US consumers (99%) have at least one video streaming subscription, with an average of 2.9 subscriptions.
• China, Japan, and India are expected to lead the OTT video market in Asia-Pacific by 2027.

(Reference: vplayed.com)

• In the above chart, we can see the revenue from 2019 to 2014 in video streaming.
• According to Digital TV Research, OTT TV and movie revenue in the Asia-Pacific region is expected to grow by 62% to USD 52 billion by 2027.
• In Latin America, OTT streaming subscribers are expected to reach 139 million by 2027, up 67% from 83 million in 2022.
• Times of India stated that India’s OTT video user base is predicted to reach 4,216.3 million by 2027, with a user penetration rate of 53.0%.
• Global AVOD (Advertising Video on Demand) revenues for TV and movies are expected to hit USD 69 billion by 2029.
• OTT Platform Statistics stated that Global pay TV revenues are expected to decline by USD 26 billion by 2028, down from USD 151 billion in 2022.

Following is the Table Showing the SVOD Revenue over the years:

• Global free ad-supported streaming (FAST) revenues for TV series and movies are expected to reach USD 9.06 billion in 2024 and grow to USD 11.83 billion by 2027.
• US connected TV (CTV) ad spending is expected to grow, reaching USD 40.90 billion by 2027.
• According to Insider Intelligence, OTT video subscription revenues are projected to be USD 50.56 billion this year, up 12.5% from last year, and are expected to rise to USD 64.12 billion by the end of 2026.
• Global consumer spending on OTT services is expected to exceed USD 78.11 billion in 2024, up from around USD 65.47 billion in 2023.
• According to OTT Platform Statistics, spending on OTT is predicted to reach USD 120.46 billion by 2027.

The Following Table Shows the Consumer Spending on OTT Services Over the Years:

Impact of COVID-19 on OTT Platforms

• The COVID-19 pandemic has had a big effect on the Over-The-Top (OTT) industry. When movie theatres and other entertainment places closed, people turned to streaming platforms.
• Many more people signed up for video-on-demand services during the lockdown. For example, the India Brand Equity Foundation reported that paid subscriptions to video platforms went up by 31% in just four months in 2020.
• This big increase in viewers helped the OTT market grow during the pandemic.
• As per OTT Platform Statistics, the global market size of OTT services was USD 38.77 billion in 2020.
• The market grew by 13.9% in 2020 compared to the average yearly growth from 2017-2019.

(Source: livemint.com)

• It is expected to grow from USD 44.54 billion in 2021 to USD 139.00 billion in 2028, with an annual growth rate of 17.7%.
• This growth rate will likely return to normal once the pandemic is over.
• The huge growth during the pandemic was because more people signed up for and watched different OTT streaming services.
• The market is expected to stabilize and reach USD 169.4 billion in 2023, with an annual growth rate of 14.0% from 2021.
• Revenue from the OTT industry is expected to more than double in the next four years and surpass USD 210 billion by 2026.
• According to OTT Platform Statistics, the global OTT user base is predicted to grow to 3.71 billion by 2024 from the current 3.50 billion.
• More people using internet-based communication apps will likely help the market grow. Also, more demand for online streaming content, like movies, live news, and sports, is expected to boost the market.
• In short, the COVID-19 pandemic has helped the OTT industry grow significantly. The demand for OTT services is expected to continue growing in the coming years, and more people will use these services.

OTT Users Statistics

• By 2024, it is expected that 5.27 billion people will be using Over-The-Top (OTT) services, an increase of over 315 million users from 2023.
• In 2020, about 4.1 billion people used OTT, and this number grew to 4.95 billion in 2023.
• It is predicted that the number of OTT users will keep rising and reach around 6.33 billion by 2029.

(Reference: evoca.tv)

• The global penetration rate of OTT video is expected to be 68.07% in 2024, up from 64.54% in 2023.
• This rate is predicted to continue rising, reaching 78.62% by 2029.
• In 2019, the penetration rate was about 48.28%, and it increased by 6.55% in 2020.
• The following table shows the worldwide penetration rate of OTT video over the past years:

• Canada has the highest OTT penetration rate at 135.35%, as stated by OTT Platform Statistics.
• The United Kingdom follows with the second-highest rate globally at 132.33%.
• In 2023, Belgium’s OTT penetration rate was about 113.08%, and Norway’s was 109.25%.
• New Zealand had an OTT penetration rate of 104.84% in 2023.
• 7% of OTT users are between 18 and 24 years old, which is the largest group of users.
• 4% of OTT users are between 25 and 29 years old, and 11.5% are between 30 and 36 years old, as per OTT Platform Statistics.
• About 15% of OTT users are 17 years old or younger.

• 3% of total viewing time is spent on smart TVs.
• Globally, people spend 34.6% of their viewing time on connected TV devices.
• 3% of streaming time is on mobile devices, and 7.1% is on desktops.
• Only 4.8% of viewing time is on tablets, as per OTT Platform Statistics.
• The following table shows the distribution of the viewing time spent by customers worldwide by type of device in Q2 2022.

Essential Indian OTT Platform Trends 2024

• Audio streaming services like Spotify, JioSaavn, Gaana, and Amazon Music saw a 12% increase in users from June 2022 compared to January 2021. In Q4 2021, Spotify’s revenue rose by 14.5% year-over-year to INR 92.4 billion, with Premium service revenue growing by 16% YoY to INR 106.5 billion.
• The video OTT market was worth INR 249.09 billion in FY 2022 and is expected to reach INR 581.21 billion by FY 2027, growing at a CAGR of about 16.58% from FY 2023 to FY 2027.
• By 2024, the Indian OTT market is expected to reach USD 5 billion.
• The number of OTT subscribers in India is projected to grow to 500 million, and the average time spent on OTT platforms is likely to increase to 60 minutes per day.
• Regional language content is expected to make up 60% of all OTT content consumed in India, according to OTT Platform Statistics.

(Reference: statista.com)

• In the above chart, we can see the online video platform subscription revenue across India from 2020 to 2023, with a predicted 2026.
• In 2023, subscription revenue from over-the-top video platforms in India was around 73 billion Indian rupees. This amount is expected to rise to over 100 billion rupees by 2026. The total number of paid online video subscriptions in India was 97 million in 2023.
• OTT platforms are predicted to invest over USD 2 billion in creating original content and will have more than 50 platforms operating in the country.
• The rise of 5G technology is expected to boost the OTT market significantly. The number of smart TV users in India is projected to reach 100 million, providing a larger audience for OTT services.
• OTT platforms are expected to invest heavily in local language interfaces and subtitles to serve diverse audiences.
• The impact of the COVID-19 pandemic is likely to continue, with more people using streaming services even after it ends, according to OTT Platform Statistics.
• AI and machine learning for content recommendations will be major trends.
• The Indian OTT market is expected to reach USD 5 billion by 2024, driven by more affordable data plans and smartphones.
• By 2024, India is projected to have 500 million OTT subscribers, with most people watching content on mobile devices.
• Disney+ Hotstar, previously Hotstar, is the leading OTT platform in India, with over 300 million active users each month and 100 million paid subscribers.
• Other major OTT platforms in India include Netflix, Amazon Prime Video, and Zee5, which together have more than 100 million subscribers.
• There is a growing demand for regional-language content, so OTT platforms are investing in shows and movies in Hindi, Tamil, and Telugu.
• The audio OTT market in India was valued at INR 57.48 billion in FY 2022 and is projected to grow to INR 119.11 billion by FY 2027, expanding at a CAGR of around 15.68% from FY 2023 to FY 2027.
• According to OTT Platform Statistics, more than USD 1 billion was invested in creating content and developing platforms in the Indian OTT market in 2021.
• On average, people in India spend about 70 minutes each day on OTT platforms, watching content on different devices and platforms.
• In 2022, Hotstar (now Disney+ Hotstar) was the top OTT platform with about 58.4 million subscribers, up from 44.9 million in 2021. Its subscribers grew from 45.9 million in Q1 FY 2022 to around 50.1 million in Q2 FY 2022, thanks to its coverage of the Indian Premier League (IPL) and attractive annual plan pricing.
• Audio streaming is popular because it’s flexible and fits well into a screen-heavy lifestyle. Major platforms include Gaana, Spotify, JioSaavn, Apple Music, Amazon Prime Music, Wynk Music, Google Play, and Hungama Music.
• A survey found that about 75% of smartphone users listen to music on their phones, and 86% of them use on-demand streaming services.

Benefits Of OTT Platforms Statistics

According to Insider Intelligence’s April 2023 data, 245.3 million people in the US will stream OTT services at least once a month by 2023. This represents 72.2% of the US population. Although OTT growth isn’t as fast as before, its reach is at an all-time high and is set to keep increasing. Advertising on OTT platforms gives marketers a better chance of getting noticed.

• Original Content – Many OTT platforms produce original movies and TV shows that are only available on their service. This exclusive content is often highly praised and gives viewers access to unique, high-quality entertainment.
• Cost-effective – OTT platforms are usually cheaper than traditional cable or satellite TV. Users can choose from various subscription plans, like monthly or yearly options, which are often less expensive than traditional TV services. Additionally, subscribing to multiple OTT platforms gives viewers access to more content at a lower cost.
• Wide Variety of Content – OTT platforms offer a wide range of content, including TV shows, movies, documentaries, and original programming. This variety caters to different tastes and makes it easier for users to find what they like.
• Personalization – OTT platforms offer personalized recommendations based on viewers’ watched content and preferences. Some platforms also allow multiple users to share one account, each with their own recommendations.
• Flexible and Convenient – OTT platforms provide flexibility and convenience. Users can stream content from anywhere at any time, as long as they have an internet connection. This means viewers can watch their favorite shows, movies, or documentaries while on the go or at home. OTT services also let users pause, rewind, or fast-forward content for a customized viewing experience.
• No Ads or Limited Ads – OTT platforms often provide ad-free or ad-light experiences, which means viewers can enjoy their favorite content without interruptions. This leads to a more enjoyable viewing experience.

OTT Platform Subscribers Statistics

• As of December 2023, Netflix had more than 260 million subscribers, compared to Amazon Prime’s around 200 million subscribers.
• Disney+ has over 149 million subscribers, and HBO Max has about 82 million paying subscribers.
• Tencent Video, with 115 million subscribers, is one of the most popular OTT streaming services in Asia.
• Following is the table with the top OTT streaming platform by number of subscribers:

• Netflix Premium costs USD 19.99 per month, and Netflix Standard is priced at about USD 15.49 per month.
• Amazon Prime Video has the lowest subscription fee at USD 2.99 per month.
• Disney+ charges USD 13.99 per month for its ad-free plan and USD 7.99 per month for its plan with ads, according to OTT Platform Statistics.

Following is the table showing the Average Cost of OTT Platform Subscription in the US:

• Netflix is one of the most popular OTT platforms worldwide. By 2029, it is expected to have over 298 million subscribers.
• According to OTT platform statistics, Amazon Prime Video is projected to have around 167.07 million subscribers by 2025 and nearly 269 million by 2029.
• Disney+ is expected to reach 194.38 million subscribers by 2025, while HBO is predicted to have about 28.52 million subscribers.

In the following Table, We Can See the Predicted Number of Subscribers of Top OTT Platforms:

• Hotstar is in second place with 12.74 million mobile app downloads.
• Amazon Prime Video has around 10.2 million downloads, and HBO Max has 2.23 million downloads as of 2023.

In the Below Table, the Number of Mobile Application Downloads of Top OTT Platforms:

Conclusion

Watching videos on OTT platforms is now the norm for 70% of people worldwide. With the industry growing so quickly, it’s a great time to look into this trend. Start by choosing an OTT streaming platform that fits your needs. A good way to pick the right one is to use free trials. This lets you test out the platform’s features and see if it meets your expectations. We can access a wide range of global entertainment through popular OTT streaming services. Platforms like Netflix and Amazon Prime Video are always updating and offering new ways to watch popular shows and movies.

OTT platforms have become increasingly popular, and there are many options available. Netflix, in particular, is the most popular choice. Its large content library and easy-to-use interface make it a favorite for many people around the world.

Saisuman Revankar

Saisuman is a professional content writer specializing in health, law, and space-related articles. Her experience includes designing featured articles for websites and newsletters, as well as conducting detailed research for medical professionals and researchers. Passionate about languages since childhood, Saisuman can read, write, and speak in five different languages. Her love for languages and reading inspired her to pursue a career in writing. Saisuman holds a Master's in Business Administration with a focus on Human Resources and has worked in a Human Resources firm for a year. She was previously associated with a French international company. In addition to writing, Saisuman enjoys traveling and singing classical songs in her leisure time.

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