OTT revenues to double in five years; bad news for pay…

first_img Football Football TAGSDigital Media revenuesOTT industryOTT industry revenuespay TV revenuesSports Business NewsSports Business News India SHARE Share on Facebook Tweet on Twitter Cricket BCCI Apex Council Meet: BCCI to bid for 3 major global events in next tournament cycle starting from 2024; Check Euro 2020, Switzerland vs Turkey LIVE: Shaqiri adds another as Switzerland lead 3-1; Follow Live Updates WTC Final Day 3 Stumps: India remove Conway and Latham but Kiwis on top; NZ 101/2 (49 ovs) trail by 116 runs Cricket Facebook Twitter Football WTC Final LIVE: Devon Conway continues red-hot form, slams fifty to provide New Zealand dream start OTT revenues to double in five years; bad news for pay TV By Kunal Dhyani – September 5, 2019 Latest Sports NewsSports BusinessNews RELATED ARTICLESMORE FROM AUTHORcenter_img The OTT industry will flourish in the next five years. But the news for pay TV is not that good.A report by Digital TV Research has predicted that the two broadcast streams will be heading in opposite direction in terms of their future prospects. Market probabilities over the next five years hold a lots of promise for the OTT industry, which is expected to reach $159 billion by 2024 –more than 100% growth over the $68 billion global revenue last year. WI vs SA 2nd Test Day 3 Live: South Africa lose early wickets; SA 35/2 (11 ov)- Follow Live Updates However, the pay TV revenues during the period may slump to the $ 177 billion mark – the same level as 2010 even as the number of pay TV subscribers will grow by 380 million between 2010 and 2024.The pay TV sector in India though is poised for a healthy growth during the period between 2018 and 2024. “On a positive note, India will gain $1 billion in pay TV revenuesbetween 2018 and 2024 to take its total to $6.32 billion – up by nearly 20%. India will move up from sixth to third place over this period. The second biggest winnerAlso Read: Real Madrid profit increases despite not much gain revenueswill be Indonesia, with a $786 million gain,” the report quotes Digital TV Research principal analyst Simon Murray as saying.The research forecasts 81 million additional pay TV subscribers between 2018 and 2024 – up by 8%. This will take the global total to 1.10 billion. Based on forecasts for 138 countries, the number of pay TV subs passed 1 billion in 2018.The global revenues from streaming video services this year are projected to reach $85 billion – up by more than 25% from the $68 billion recorded in 2018.  SVOD revenues will climb by $51 billion between 2018 and 2024 to take its total to $87 billion, states the report.“Despite losing market share to SVOD, there is still plenty of AVOD growth left. AVOD revenues will increase by $34 billion between 2018 and 2024 to take its total to $56 billion. Several high profile AVOD-funded platforms are due to start operations soon,” says Murray.The report has covered 138 countries. The top five from these will command 68% of the global revenues by 2024. The fact that this proportion is down from 71% in 2018 establishes the rest of the world will grow at a faster rate.OTT revenues will exceed $1 billion in 18 countries by 2024; up from 10 countries in 2018.The US will remain the dominant territory by some distance, with its share of global revenues staying just under 40%. Digital TV Research forecasts that revenues inthe US will more than double between 2018 and 2024 – adding nearly $34 billion to reach $61 billion. China will add $15 billion over the same period to reach to $27 billion. The US and China will control 56% of the global total by 2024.“China and the US together accounted for 63 per cent of the global total in 2018. China overtook the US in 2018 to become the gross SVOD subscription leader,” says Murray.  “India (has) nearly doubled its subscription base.”CLICK HERE for complete report.Also Read: Bundesliga edges past LaLiga in European Football League revenues Previous articleNBA considering to make investment in teams: ReportNext articleDream11 among Caribbean Premier League sponsors Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore Cricket Cricket Euro 2020, Italy vs Wales LIVE: Time running out for Wales as Italy maintain lead and possession; Follow Live Updates Latest Sports News Cricket PSL 2021 Playoffs: Schedule, Timing, LIVE streaming, list of champions; all you need to know Cricket WTC Final IND vs NZ: Virat Kohli displays his dancing skills on the beats of Bharat Army’s Dhol; Watch video Euro 2020 LIVE broadcast in more than 200 countries, check how you can watch Live Streaming of EURO 2020 in your countrylast_img

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