Global over-the-top TV and video revenues will reach US$64.78 billion in 2021, more than doubling from US$29.41 billion in 2015, according to new research.
The Digital TV Research stats claim that of the US$35.37 billion in extra revenues between 2015 and 2021, Asia Pacific will contribute US$12.65 billion, North America US$9.00 billion and Western Europe US$8.25 billion.
“The US will remain the dominant territory for online TV and video revenues – which will rise by US$8.24 billion to $22.82 billion between 2015 and 2021,” according to the research. “China will add a further US$6.24 billion, with its total revenues nearly quintupling over the period to give it second place.”
Subscription VOD is tipped to become the biggest over-the-top revenue source by 2018, but advertising-based VOD will regain the top position by 2020.
SVOD will contribute 40% of total OTT revenues in 2021, some US$25.71 billion, according to the research.
In terms of subscriber numbers, Digital TV Research estimates there will be 383 million SVOD subscriptions by 2021, up from 163 million by the end of 2015 and just 21 million in 2010.
From the 220 million SVOD additions between 2015 and 2021, some 107 million are predicted to be in the Asia Pacific region and 28 million in the Middle East and Africa. Another 28 million additions are expected in North America between 2015 and 2021, while western Europe will bring in an extra 30 million.
“Mobile SVOD is growing rapidly in Asia – and will do so in the Middle East and Africa. Mobile broadband is more established than fixed broadband in many developing countries,” said Simon Murray, principal analyst at Digital TV Research.