The internet revolution has facilitated users to watch their favorite movies and TV shows easily, and OTT platforms have experienced a significant increase in subscribers.
Over 65% of the global population consumes OTT content, and the use of OTT has increased immensely since the pandemic.
This article features some of the most interesting statistics about OTT users, revenue, and OTT platforms.
Top OTT Statistics
- More than 5.27 billion people are estimated to use OTT in 2024.
- OTT Video market revenue is forecasted to reach US$316.40bn in 2024.
- The OTT revenue in the United States is expected to reach $71.2 billion in 2024.
- 42.7% of OTT users are between 18 – 24 years old.
- Netflix has over 260 million subscribers as of December 2023.
- OTT Video has a global penetration rate of 68.07% in 2024.
OTT Users Statistics
Consumers access video content through OTT platforms the most, and many prefer watching content on OTT over traditional methods.
This section will talk about the number of OTT users.
5.27 Billion People Are Expected To Use OTT In 2024
Around 4.1 billion people used OTT in 2020, and the number of users increased to 4.95 billion in 2023.
It is estimated that the number of OTT users will increase continuously and reach around 6.33 billion users by 2029.
The table below shows the number of OTT users over the years:
| Year | Number of OTT Users |
|---|---|
| 2029* | 6.33 billion |
| 2028* | 6.14 billion |
| 2027* | 6.0 billion |
| 2026* | 5.76 billion |
| 2025* | 5.54 billion |
| 2024* | 5.27 billion |
| 2023 | 4.95 billion |
| 2022 | 4.54 billion |
| 2021 | 4.51 billion |
| 2020 | 4.11 billion |
Source: Statista *Projected numbers
OTT Video Has A Global Penetration Rate Of 68.07% In 2024
In comparison, the global penetration rate of OTT video was around 64.54% in 2023.
The penetration rate is expected to increase steadily over the years and reach 78.62% by 2029.
The global penetration rate of OTT video was around 48.28% in 2019 and increased by 6.55% in 2020.
Here is a table showing the global penetration rate of OTT video over the years:
| Year | OTT Penetration Rate |
|---|---|
| 2029* | 78.62% |
| 2028* | 76.86% |
| 2027* | 75.08% |
| 2026* | 73.2% |
| 2025* | 70.92% |
| 2024* | 68.07% |
| 2023 | 64.54% |
| 2022 | 59.67% |
| 2021 | 59.63% |
| 2020 | 54.83% |
| 2019 | 48.28% |
Source: Statista *Projected numbers
Canada Has An OTT Penetration Rate Of 135.35%
This was the highest penetration rate among the surveyed countries.
With a penetration rate of 132.33%, the United Kingdom has the second-highest OTT penetration rate globally.
Belgium’s OTT penetration rate was around 113.08% in 2023, while Norway reported a penetration rate of 109.25%.
New Zealand exhibited an OTT penetration rate of 104.84% in 2023.
Source: Statista
42.7% Of OTT Users Are Aged Between 18 – 24 Years
This makes up the most significant proportion of OTT users.
18.4% of OTT users are aged 25 – 29 years, while 11.5% of users are 30 – 36 years old.
On the other hand, around 15% of OTT users are 17 or younger.
The table below shows the distribution of OTT users by age:
| Age Group | OTT Users |
|---|---|
| 17 and younger | 15% |
| 18 to 24 years | 42.7% |
| 25 to 29 years | 18.4% |
| 30 to 36 years | 11.5% |
| 37 to 45 years | 6% |
| 45 to 54 years | 2.1% |
Source: Inplayer
OTT Revenue Statistics
The OTT market exploded during the pandemic, and users have adopted OTT platforms to consume video content.
In this section, let us explore some financial statistics about OTT.
The Global OTT Revenue Is Set To Reach $215 Billion By 2029
In 2023, the global over-the-top video revenue was around $162 billion.
Global OTT revenue was around $6.1 billion in 2010, increasing to over $83.34 billion in 2019.
OTT revenue was $135.1 billion in 2021, which hiked by over $51.76 billion between 2019 and 2021.
Here is a table showing the OTT revenue over the years:
| Year | OTT Revenue |
|---|---|
| 2029* | $215 billion |
| 2023 | $162 billion |
| 2022 | $154 billion |
| 2021 | $135.1 billion |
| 2019 | $83.34 billion |
| 2010 | $6.1 billion |
Source: Statista *Projected numbers
The OTT TV And Video Revenue In The United States Is Expected To Reach $76.6 Billion In 2024
The SVOD revenue is expected to contribute $53.5 billion, and AVOD revenue will contribute $17.5 billion.
OTT revenue in the U.S. is estimated to reach nearly $80 billion in 2029.
With $54.6 billion in revenue, SVOD will be the largest contributor to OTT revenue in the U.S. by 2029.
Here is a table showing the OTT revenue in the U.S.:
| Year | Total Revenue | SVOD Revenue | AVOD Revenue | Other |
|---|---|---|---|---|
| 2029* | $79.9 billion | $54.6 billion | $21.6 billion | $3.7 billion |
| 2024 | $76.6 billion | $53.5 billion | $17.5 billion | $5.6 billion |
| 2023 | $73.6 billion | $52.5 billion | $15.6 billion | $5.5 billion |
Source: Statista *Projected numbers
Global SVOD Revenue Is Expected To Reach $124 Billion By 2028
The subscription video-on-demand revenue was around $67 billion in 2020, which increased by over $32 billion in 2022.
The SVOD revenue reached around $99 billion in 2022 and $36.05 billion in 2018.
In comparison, the SVOD revenue was valued at just $17.22 billion in 2016.
Here is a table showing the SVOD revenue over the years:
| Year | SVOD Revenue |
|---|---|
| 2028* | $124 billion |
| 2022 | $99 billion |
| 2020 | $67 billion |
| 2018 | $36.05 billion |
| 2017 | $25 billion |
| 2016 | $17.22 billion |
Source: Statista * Projected numbers
AVOD Revenue In The U.S. Is Expected To Cross $21.6 Billion By 2029
The United States is anticipated to have the highest Ad-supported video-on-demand revenue.
Meanwhile, China is projected to generate around $7.4 billion in AVOD revenue in 2029.
The United Kingdom and Canada are expected to generate AVOD revenues of $3.6 billion and $3.5 billion, respectively.
India is set to generate over $3 billion in AVOD revenue by 2029.
The table below shows the expected AVOD revenue generated by country:
| Country | AVOD Revenue |
|---|---|
| United States | $21.6 billion |
| China | $7.4 billion |
| United Kingdom | $3.6 billion |
| Canada | $3.5 billion |
| India | $3 billion |
| Germany | $2.9 billion |
| Brazil | $2.6 billion |
| Japan | $2.5 billion |
| Others | $22.2 billion |
Source: Statista
The Global Consumer Spending On OTT Is Expected To Reach Over $78.11 Billion In 2024
The consumer spending on OTT services was around $65.47 billion in 2023.
The forecasts suggest that the global consumer spending is expected to reach $120.46 billion by 2027.
Consumer spending on OTT services increased rapidly between 2020 and 2021, reaching around $73.43 billion in 2021.
Here is a table showing the consumer spending on OTT services over the years:
| Year | Consumer Spending on OTT |
|---|---|
| 2027* | $120.46 billion |
| 2026* | $106.81 billion |
| 2025* | $92.64 billion |
| 2024* | $78.11 billion |
| 2023 | $65.47 billion |
| 2022 | $80.83 billion |
| 2021 | $73.43 billion |
| 2020 | $57.74 billion |
| 2019 | $43.14 billion |
| 2018 | $34.61 billion |
| 2017 | $27.68 billion |
Source: Statista *Projected numbers
OTT User Behavior And Time Spent On OTT Statistics
OTT has transformed consumers’ content consumption patterns and preferences since the pandemic. The time spent on OTT has increased, and people are adopting it at a faster rate.
In this section, let us explore statistics about time spent on OTT by devices and regions.
45.3% Of Daily Watch Time Was Spent On Watching OTT Content In 2022
This number has grown steadily over the past few years.
In 2020, 42.2% of daily watch time was spent on OTT platforms, and about 44% of watch time was spent on OTT content in 2021.
Consumers spent around 41.1% of their daily watch time on OTT streaming services in 2019.
Here is a table showing the share of daily time spent on OTT:
| Year | Percentage of Time Spent |
|---|---|
| 2022 | 45.3% |
| 2021 | 44% |
| 2020 | 42.2% |
| 2019 | 41.1% |
| 2018 | 39% |
| 2017 | 36.5% |
| 2016 | 31.7% |
| 2015 | 29.5% |
Source: Statista
35.3% Of The Total Viewing Time Is Spent Watching Content On Smart TV
Globally, consumers spent 34.6% of total viewing time watching video content on connected TV devices.
11.3% of streaming viewing time is spent watching on mobile devices, and 7.1% is through desktops.
Only 4.8% of viewing time is spent watching content on a tablet.
The table below shows the distribution of viewing time spent by global consumers by type of device in Q2 2022:
| Device | Time Spent |
|---|---|
| Smart TV | 35.3% |
| Connected TV device | 34.6% |
| Mobile phone | 11.3% |
| Desktop | 7.1% |
| Gaming console | 6.8% |
| Tablet | 4.8% |
| Other | 0.2% |
Source: Statista
8.7% Of Viewing Time Is Spent Watching On Mobile Devices In The North American Region
On the flip side, video consumers from China spend 41.8% of their viewing time watching content on mobile devices.
10.6% of Oceania consumers used mobile devices to watch video content.’
In Europe, 11.7% of viewing time is spent on watching content on mobile devices.
Here is a table showing the viewing time spent watching video content on mobile devices by region:
| Region | Time Spent Watching on Mobile Devices |
|---|---|
| North America | 8.7% |
| Latin America | 15.7% |
| Oceania | 10.6% |
| Asia | 41.8% |
| Africa | 19% |
| Europe | 11.7% |
Source: Statista
Advertising On OTT Platforms
Disney+ Is Projected To Generate $11.4 Billion In Ad-Supported Video-On-Demand Revenue In 2028
By 2028, Paramount+ will generate AVOD revenues of $5.4 billion, and YouTube will generate around $5 billion.
Netflix is expected to generate ad-supported revenue of $4.6 billion, while HBO is set to generate $4.3 billion.
The table below shows the AVOD revenues of OTT platforms in 2028:
| OTT Platform | AVOD Revenue |
|---|---|
| Disney+ | $11.4 billion |
| Paramount+ | $5.4 billion |
| YouTube | $5 billion |
| Hulu U.S. | $4.7 billion |
| Netflix | $4.6 billion |
| Peacock U.S. | $4.6 billion |
| HBO | $4.3 billion |
| Roku U.S. | $3.1 billion |
| Pluto TV U.S. | $3 billion |
| Tencent China | $2.3 billion |
| $2.2 billion | |
| Others | $40 billion |
Source: Statista
OTT Platform Statistics
In recent times, OTT platforms have become more prominent than traditional cable TV. Their ease of use and accessibility have resulted in high adoption rates.
Let us explore some of the influential statistics about OTT platforms.
Netflix Has Over 260 Million Subscribers As Of December 2023
Contrastingly, Amazon Prime has an estimated 200 million subscribers,
Disney+ has more than 149 million subscribers, and HBO Max has around 82 million paying subscribers.
With 115 million subscribers, Tencent Video is one of Asia’s most subscribed OTT streaming services.
Here is a table with the top OTT streaming platforms by number of subscribers:
| OTT Platform | Number of Subscribers |
|---|---|
| Netflix | 260 million |
| Amazon Prime | 200 million |
| Disney+ | 149 million |
| Tencent Video | 115 million |
| iQIYI | 101 million |
| HBO Max | 82 million |
| Paramount+ | 67.5 million |
| Hulu | 49.7 million |
| Apple | 40 million |
| Eros Now | 39.9 million |
Source: FlixPatrol
Netflix Premium Has A Subscription Price Of $19.99 Per Month
Conversely, Netflix Standard costs around $15.49 per month.
Amazon Prime Video has the lowest subscription price of $2.99 per month.
Disney+ ad-free subscription costs $13.99, while Disney+ ad-supported subscription costs $7.99 per month.
Here is a table showing the average cost of OTT platform subscriptions in the U.S.:
| OTT Platform | Subscription Cost |
|---|---|
| Netflix – Premium | $19.99/month |
| Hulu – Ad free | $17.99/month |
| Max – Ad free | $15.99/month |
| Netflix – Standard | $15.49/month |
| Disney+ – Ad free | $13.99/month |
| Paramount+ – Ad free | $11.99/month |
| Peacock – Ad free | $11.99/month |
| ESPN+ | $10.99/month |
| Hulu – Ad-supported | $7.99/month |
| Disney+ – Ad-supported | $7.99/month |
| Netflix – Basic with ads | $6.99/month |
| Peacock – Ad-supported | $5.99/month |
| Paramount+ – Ad-supported | $5.99/month |
| Amazon Prime Video – Ad free | $2.99/month |
Source: Statista
Netflix Will Have Over 274.14 Million Subscribers By 2025
Netflix has solidified itself as one of the most used OTT platforms in the world.
It is estimated that Netflix will have over 298 million subscribers by 2029.
Amazon Prime Video is expected to have around 167.07 million subscribers by 2025 and nearly 269 million by 2029.
Disney+ is projected to have 194.38 million subscribers by 2025, and HBO is expected to have around 28.52 million subscribers.
Here is a table showing the expected number of subscribers of top OTT platforms:
| OTT Platform | Number of Subscribers by 2025 | Number of Subscribers by 2029 |
|---|---|---|
| Netflix | 274.14 million | 298 million |
| Amazon Prime Video | 167.07 million | 269 million |
| Disney+ | 194.38 million | 192 million |
| HBO | 28.52 million | 68 million |
| Apple TV+ | 13.43 million | 30 million |
Source: Statista
Netflix Mobile App Has Been Downloaded Over 13.9 Million Times To Date
With 12.74 million downloads, Hotstar comes in second place in terms of the number of mobile app downloads.
Amazon Prime Video has around 10.2 million downloads, and HBO Max has 2.23 million downloads as of 2023.
Here is a table showing the number of mobile app downloads of top OTT platforms:
| OTT Platform | Number of Mobile App Downloads |
|---|---|
| Netflix | 13.9 million |
| Hotstar | 12.74 million |
| Amazon Prime Video | 10.2 million |
| iQiYi | 3.77 million |
| Crunchyroll | 3.53 million |
| HBO Max | 2.23 million |
| Tencent Video | 2.15 million |
| Youku | 1.47 million |
| Globoplay | 1.42 million |
| Hulu | 1.13 million |
| DAZN | 0.71 million |
Source: Statista
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Conclusion: 5.27 Billion Are Projected To Use OTT In 2024
The global OTT market revenue was $162 billion in 2023 and is expected to grow to over $215 billion by 2029.
OTT has become a main source of video content, and more production houses are investing in and releasing content in 2024.
These were the most noteworthy statistics revolving around OTT users, revenue, and platforms.
