MASSIVE: OTTs will earn 160 Billion USD in 2025. Click to know more details on it.
Jeya Suriya -
OTT which is abbreviated as Over The Top is undoubtedly booming up worldwide. A revenue article in the spring of 2020 suggested that $83 Million in revenue was gained by the OTTs in the year 2019.
Now a report from the United States intimate us by 2025, global revenues from OTT could by $167. Yeah, It's more than a double from the revenue acquired in 2019. Not just the analysts, anyone with Common Sense would say it is the COVID 19 Pandemic which has helped the OTT Revenue grow up to this level.
A Popular US Analyst stated, "The impact of the virus has boomed up the usage in around 138 Countries." He had also asserted that the move of Disney which initiated Disney+ has added oil to the fume.
Another report from the Hub Entertainment Research has found that, during this Pandemic, 94% of homes have at least one subscription to an OTT service. At the other end of the report, it is stated that 78% of houses are using an OTT service despite the situation.
The report clearly states Netflix is still the market leader whereas Amazon Prime Video bags the second spot. The survey also discovered that in less than 6 months following Disney+ launch, approximately one-third of all the customers have a subscription to the Disney's Streaming Site as it delivers a family-focused streaming service.
Also, Speaking on the Revenues from OTTs in the U.S. analysts confirm that it will double up in 6 Years.
Note - Hub surveyed 2,000 U.S. broadband customers aged 16 to 74 who watch at least 1 hour of TV a week.