Traditional media was already tumbling and received another blow from the coronavirus pandemic and ensuing economic crisis. The main reason for this are declining advertising expenditures.
Globally, the decline of traditional TV revenues is estimated at around six percent. In contrast, streaming providers can look forward to rising revenues in 2020, as a forecast by the Statista Advertising & Media Outlook shows. According to the forecast, sales by streaming providers and other over-the-top video companies will increase by eleven percent worldwide. The growth of streaming is most pronounced in developing markets like those in Asia. In India, TV revenues are expected to grow alongside streaming in 2020, but not by as much, while they are expected to stay more or less stagnant in Indonesia. In China and across Asia, TV revenue streams are projected to decrease by around 3 percent.
The coronavirus slump of traditional TV will be even more pronounced in Europe, where revenues are expected to drop by 8 percent compared with 6 percent in the U.S.