OTT has grown exponentially over the years. The switch from traditional cable TV to ad-supported or subscription-based streaming services has become normal nowadays. There seems to be no end in sight for OTT. How do we know that? Take a look at the latest OTT statistics so that you can see for yourself!
Before we start, however, we would like to thank everyone who has collected data about OTT. We all need these pieces of information to follow the growth of the industry!
Now, let’s take a look at the state of OTT in 2021!
Key OTT Statistics for 2021
Various surveys have all concluded that OTT seems to be the future of video. Its popularity shows no sign of waning anytime soon because people find this way of streaming content more convenient. Traditional TV might soon be forgotten because of OTT!
- The global OTT market was worth $121.61 billion in 2019 and is estimated to reach $1.039 trillion by 2027. (Allied Market Research)
- OTT media revenue is expected to reach more than $210 billion by 2026. (Statista)
- OTT TV and video subscriptions are expected to grow to 2 billion by 2025. (Juniper Research)
- The top five OTT services by the number of subscribers are (Fox Business):
- HBO Max
- Amazon Prime
- 55.1 million people will stop watching traditional pay TV by 2022, putting the focus on OTT services. (eMarketer)
- There are more than 300 OTT providers in the USA alone. (LemonLight)
How Consumers Access OTT Services
Thanks to advances in technology, consumers can now access their favorite content anywhere, anytime. This is especially useful for OTT given that viewers need just a device connected to the internet to start streaming. And they are using these devices to stream billions of hours of videos!
- Around 240 billion hours of video were streamed on mobile devices across the globe in Q4 2020. (AppAnnie)
- While streaming online video content, 65% of the time it is done on mobile and TV apps, with browsers coming in third. (Uscreen)
- The average OTT user will consume content on three different devices and three different apps. (OpenX)
- Almost 83% of OTT streaming hours in the USA are done using five apps (Comscore):
- Amazon Video
- Over 25% of US homes have access to five OTT apps. (Comscore)
OTT and Advertising
As you might expect, advertising is thriving in the OTT industry. With an increasing number of households cutting the cord and subscribing to OTT services, advertisers are rushing to deliver their ads to the screens of their customers.
- Ad revenue for OTT video advertising is set to reach $119 billion by 2023, accounting for 51% of all OTT revenues. (Statista)
- The OTT market generates revenue through different media distribution systems (Statista):
- 51.58% comes from advertising video on demand (AVOD)
- 40.16% from subscription video on demand (SVOD)
- 5.1% from transactional video on demand (TVOD)
- And 3.16% from video downloads
- Advert impressions increased by 13% in Q1 2021 for streamed content compared to the previous quarter. (Conviva)
- 42% of US agencies and marketing professionals expect to increase their ad spending on OTT platforms in 2021. (eMarketer)
- By the end of 2021, OTT locally-activated advertising is predicted to reach the value of $1.2 billion. (BIA Advisory Services)
- The average revenue per user (ARPU) for OTT video advertising is expected to amount to $52.25 by 2025. (Statista)
- Programmatic impressions of marketing campaigns grew by 207% on connected TVs in the USA alone. (Innovid)
- Around 40% of viewers who watch OTT content pause what they watch to search or buy what they see in ads. (OpenX)
- 66% of people who subscribe to OTT services have discovered a new product or service while streaming, making it obvious how effective OTT ads can be for businesses. (OpenX)
- Ad recall, a campaign metric that indicates how memorable an ad is to customers, is high for OTT — 72% of viewers can remember a specific ad they saw. (OpenX)
- 25% of OTT viewers are happy to watch up to 10 minutes of advertising if they don’t have to pay for a subscription. (OpenX)
OTT and the Power of Streaming
People are streaming now more than ever before, the latest research shows. In fact, OTT streaming to TVs experienced an impressive growth in the past year.
- Since the start of the coronavirus pandemic, 28% of people are watching more live video content around the globe. (Global Web Index)
- In 2020, a record-breaking 100 billion hours of live gaming content was watched on YouTube. (YouTube)
- During the first quarter of 2021, live streaming accounted for 24% of global OTT viewing. (Conviva)
- OTT streaming to TVs experienced a 115% increase between 2020 and 2021. (Conviva)
- When businesses and content creators launch an OTT TV app, their earnings increase by 30% on average. (Uscreen)
- Transactional video on demand (TVOD) streaming grew from 10.9% to 13.3% in the USA between Q2 and Q3 2021. (Reelgood)
- 21% of US households have cut the cord and stopped paying for a cable subscription. (Comscore)
- 98% of US consumers subscribe to at least one OTT streaming app. (Brightback Report 2021)
Consumers and OTT
It is no wonder that consumers have an overall positive view of OTT in 2021. An overwhelming number of them will continue to use these services this year!
- 86% of viewers said they will pay for the same or other subscription services this year. (Brightback Report 2021)
- Internet users consume 38 hours of content each month, meaning that they devote almost a full work week to watching videos on mobile apps. (AppAnnie)
- 45% more people are using on-demand OTT services in Q1 2021 compared to the same period last year. (Conviva)
- 30% of people around the globe relied on social media to access live content during the coronavirus pandemic. (Global Web Index)
- 21% of women and 20% of men want to watch more live broadcasts of their favorite musicians. (Data Reportal)
- Streamers are expected to download 85% more video streaming apps in the USA in 2021. (AppAnnie)
- Customers engage with social media accounts of OTT publishers, with a 24% growth in engagement over the year to Q1 2021. (Conviva)
OTT Statistics 2021 [Infographic]
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