OTT revenue worldwide from 2010 to 2024

Over-the-top (OTT) media revenue is expected to reach 158.84 billion dollars by 2024, more than double the 67.8 billion generated in 2018. The service has experienced massive growth over the eight years, with revenues growing exponentially from 6.1 billion U.S. dollars in 2010 to over ten times that amount in 2018.

Over-the-top

The term ‘over-the-top' is used to describe internet-based services that allow users to stream media content over the internet without the need for cable or satellite subscriptions. In the United States alone there are around 180 million OTT users with many of the most popular services in the market being video-on-demand platforms like Netflix, Hulu, and Amazon Prime. Netflix has over 150 million paying subscribers worldwide making it the biggest OTT video provider in the world. U.S.-based OTT users will spend an estimated 17.5 hours with these services per week in 2019, and as they begin to replace traditional media such as television, the platform has become beneficial for both consumer and advertisers. Not only are OTT users more receptive to advertisement than TV viewers, but the OTT platforms themselves allow advertisers to better target their ads to specific demographics or types of consumers that are more likely to be interested in their products or services.