MUMBAI: OTT business across the world is now in a high growth period. In the next five years, revenue from online TV episode and films will reach $129 billion, which is more than double of same recorded in last year. Back in 2017, it stood at $53 billion and in 2018 alone $16 billion will be added. Global OTT TV & Video Forecasts has found the data after surveying 18 countries.

The research has also found the top five markets will command 69 per cent of worldwide revenues by 2023, down from 73 per cent in 2017. While online video viewing was a typical trend of some particular developed countries a few years back also, it is clear that emerging markets are rapidly growing, boosting the overall ecosystem. The report predicts that OTT revenues will exceed $1 billion in 17 countries by 2023.

Among all the business models in OTT market, SVOD has highest upward growth in total revenue share. In 2016, it became the largest OTT revenue source by overtaking AVoD. The share of the total will increase from 47 per cent in 2017 to 53 per cent in 2023. However, AVOD is still very relevant in the game being left with enough opportunities. AVOD revenues are projected to increase by $27 billion between 2017 and 2023.

“No prizes for guessing that the US will remain the dominant territory by some distance,” Digital TV Research principal analyst Simon Murray commented. “However, its share of global revenues will fall from 43 per cent in 2017 to 37 per cent by 2023. We forecast that revenues in the US will more than double between 2017 and 2023 – adding nearly $25 billion to reach $48 billion."

China, another growing player, will add $17 billion over this same period to nearly triple its revenues to $26 billion. Its market share will increase to 20 per cent in 2023 from 17 per cent in 2017.