NEW DELHI: A global study projects that OTT TV episode and movie revenues would touch $ 83 billion by 2022, more than double the $ 37 billion recorded in 2016  with India expected to clock $ 1.5 billion by then, which will help it go up the pecking order that is presently led by the US.

The US will remain the dominant territory for online TV and video revenues by some distance, though the its share of the global market will fall from 51 per cent in 2016 to 40 per cent in 2022, The Global OTT TV & Video Forecasts report stated, adding contributing half the Asia Pacific total, China will add a further $7.6 billion with its total revenues reaching $12 billion in 2022.

Digital TV Research principal analyst Simon Murray told Indiantelevision.com via an email exchange, “We estimate that OTT revenues reached $246 million in India in 2016. We forecast that this figure will be $1501 million by 2022.”

Pointing out that India’s OTT revenue growth will be “pretty impressive”, Murray said India is also likely to improve its ranking from No. 18 in 2016 to No. 11 by 2022. The present report studied OTT trends in 138 countries.

Interestingly, Asia-based research firm Media Partners Asia (MPA) few months back estimated the Indian online video industry generated approximately US$ 230 million in total sales in 2016, and is on course to reach approximately US$340 million in 2017. MPA projected a 35 percent CAGR to 2022 as total industry sales top US$1.6 billion.

Meanwhile, the Digital TV Research, released recently, went on to add global SVOD (subscription video on-demand) became the largest OTT revenue source in 2013. It will generate half of the OTT revenues by 2022. SVOD will add $24 billion in revenues between 2016 and 2022, with AVOD up by $17 billion. AVOD will total $29 billion by 2022; up from $12 billion in 2016.

According to Murray, “OTT revenues will exceed $1 billion in 14 countries by 2022; double the count at end-2017. The top five nations will command two-thirds of global revenues.”