Global over-the-top video revenues will increase from nearly US$9 billion in 2014 to more than US$19 billion in 2019, according to Parks Associates.
According to Parks, roughly 7% of all US homes – 8.4 million households – subscribe to broadband and at least one OTT video service but do not subscribe to pay TV. In Western countries such and the UK and Spain, the figure is approximately 4%.
“The OTT video services marketplace continues its rapid rate of change, impacting the video ecosystem across world markets. While operator attempts at TV Everywhere have made little impact, OTT video services are experiencing a boom,” said Brett Sappington, director of research, Parks Associates.
“A variety of new players are entering the market, and operators including DISH Networks, Rogers Communication, Bell Canada, and Sky are responding with OTT video services of their own. How the industry responds to this change will ultimately affect the fundamental structure of the video industry for years to come.”