Report Description

The global OTT media services market was valued USD 117.59 billion in 2021 and is projected to grow at CAGR of over 14.56% through 2028 owing to the growing number of audiences which is fuelling and expected to further increase the revenue generation. Moreover, OTT has drawn a sizable group of users from all over the world, variety of OTT platforms gained a significant surge in their respective revenues. For instance, Netflix's total revenue in the third quarter of 2022 was close to USD7.93 billion, up from roughly USD7.48 billion in the corresponding quarter of 2021. Moreover, in the Asia-Pacific region, about 1.43 million new paying users were added, and the region witnessed the Netflix third-quarter revenue which was increased by 19%, from USD834 million to USD889 million.  Its average paid membership increased by 23% year over year, from 30.05 million to 36.23 million. 


The Global OTT Media Services Market is mainly driven by ease of viewing through different devices and platforms, a variety of content, and technological advancements. The expansion of the OTT industry has been fuelled by the availability of a wide range of streaming content in addition with different languages and the simplicity of viewing through various devices and platforms such as smartphones, smart TVs, laptops, etc., are the factors which are significantly influencing customers' choice to shift towards OTT media services from the traditional broadcast network. 


During the forecast period, the demand for OTT media services is expected to significantly grow in the forecasted period with the rise in consumer spending power, where the consumer are now preferring to purchase different subscriptions for streaming OTT services in order to avail wide range of web series, movies, live streaming and other media content on various devices such as television, smartphones, etc. Moreover, according to the data provided by the business standard, more than 665 million households have smart tv in their homes, significantly fuelling the demand for OTT media services in the country.


Due to the growing number of paid subscribers in the United States, the North American region, which previously dominated the global market for OTT media services, is currently experiencing rapid growth. For a number of reasons, including increasing smart TV penetration and the accessibility of various devices for streaming OTT content, the United States is the market leader in North America. For instance, in the United States and Canada, Netflix had 73.39 million subscribers in 2022. Furthermore, seamless streaming is possible via OTT platforms on connected TV devices and smart TVs. The market for OTT media services in the area is expanding as 71% of American households, up from 58% in 2020, will have a smart TV by 2022.


The COVID-19 pandemic, which placed millions of people under lockdown, had a moderate impact on OTT media services globally. The OTT industry profited from cheaper subscription fees, more convenient internet access, and more time spent at home as binge-watching emerged as the popular trend. OTT usage increased to two to three hours per day during the COVID-19 period, according to several published reports. Additionally, eight billion hours of over-the-top (OTT) content were streamed each month from 180 million users in Southeast Asia, making OTT one of the fastest-growing media channels in the region by 2020.

Broadband usage and the adoption of smart devices are driving market expansion Currently, there are more than six billion active smartphone subscribers globally. Viewers can watch content whenever, wherever, and on their preferred device by simply connecting their smart devices to the subscribed OTT services. However, the popularity of smart gadgets like TV sticks and smart TVs is accelerating market expansion.

The expansion of over-the-top (OTT) services is primarily being driven by an increase in broadband penetration. An growth in internet users and their access to over-the-top (OTT) material like video, music streaming, and VoIP was brought on by high speed broadband internet access. This will increase the demand for over-the-top (OTT) content and lead the global OTT market to grow.

Availability of OTT content in different local languages fueling the market growth

OTT services are becoming increasingly popular because of the availability of content dubbed in many local languages, allowing consumers to understand the content more readily and helping them engage with the story. Furthermore, OTT streaming media firms are attempting to provide subtitles in additional languages so that any consumer anywhere in the world can access and enjoy the content. Additionally, Netflix, Inc. acquired Animal Logic Group of Companies, an animation studio, in 2022; with this acquisition, the company looks forward to strengthening its market in the animation business.

Pandemic accelerated the market growth

COVID-19 boosted OTT media providers because people were stuck at home, and OTT streaming content provided them with some entertainment. For instance, The Walt Disney Company launched it streaming services in Europe and gained more than 22 million subscribers, which almost doubled the company’s global subscribers, as quoted by the Guardian. Furthermore, OTT pricing is quite reasonable, as it is provided over the cheap internet without the need for a traditional broadcast or cable video infrastructure. The market for OTT media services has also benefited from increased broadband penetration.

Rising Market Competition Hindering the Market Growth

The OTT media service sector is undergoing intense competition because new service providers offer content at lower prices than current providers. Furthermore, service providers have begun to deliver new content they have created, which might become a disadvantage because the web series or movie may fail, and their money would be wasted.

Additionally, the absence of technological specialists and qualified professionals in both developed and undeveloped nations would hinder the market's expansion. The high expenses associated with using and obtaining the services will slow down the market's expansion. Strong infrastructure facilities and poor internet service, which affect image and audio quality depending on the internet connection, are additional factors that have an impact on market growth. Additionally, the presence of cheaper alternatives like satellite or cable-based programming is projected to have a negative impact on the expansion of the trade during the forecast period.

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Market Segmentation

The Global OTT Media Services Market is segmented based on Type, device type, region, and company. Based on Type, the market is further segmented into AVOD, SVOD and TVOD. Based on device type, the Global OTT Media Services Market is segmented into Smart TVs & Set-Top Box, Mobile Devices & Computers/Laptops/Laptops, Gaming Consoles & Streaming Devices. Based on region, the market is divided into North America, Asia Pacific, Europe, South America, Middle East and Africa.

Company Profiles

Netflix, Inc., The Walt Disney Company, Apple Inc.,, Inc., Paramount Global, Alphabet Inc. (YouTube), WarnerMedia Direct, LLC. (HBO Max), Sling TV L.L.C., Rakuten Group, Inc., Kakao Entertainment Co., Ltd. are among the top players operating in the global OTT media services market.



Market Size Value in 2022

USD133.36 Billion

Revenue Forecast in 2028

USD299.12 Billion

Growth Rate


United States Market Size in 2028

USD133.80 Billion

Base Year


Historical Years

2018 – 2021

Estimated Year


Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2021 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Device Type

·         Region

·         Company

Regional Scope

North America, Europe, Asia-Pacific, Middle East & Africa and South America

Key Companies Profiled

Netflix, Inc.,, Inc, Alphabet Inc., The Walt Disney Company, Hulu, LLC, Apple, Inc. Rakuten, Inc., Roku, Inc., Kakao Corp., Sling TV and others.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)


Report Scope:

In this report, Global OTT Media Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Global OTT Media Services Market, By Type:

o   AVOD

o   SVOD

o   TVOD

·         Global OTT Media Services Market, By Device Type:

o   Smart TVs & Set-Top Box

o   Mobile Devices & Computers/Laptops

o   Gaming Consoles & Streaming Devices

·         Global OTT Media Services Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Asia-Pacific

§  China

§  Japan

§  South Korea

§  India

§  Australia

§  Indonesia

§  Vietnam

o   Europe

§  United Kingdom

§  Germany

§  France

§  Italy

§  Spain

§  Norway

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  UAE

§  Saudi Arabia

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global OTT Media Services Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Data Triangulation & Validation

2.6.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Respondent Demographics

4.1.1.     By Gender

4.1.2.     By Age

4.1.3.     By Occupation

4.2.  Platform Preference

4.3.  Factors Influencing Purchase Decision

4.4.  Challenges Faced Post Purchase

4.5.  Preferred     Device to Watch OTT

4.6.  Satisfaction Level

5.    Global OTT Media Services Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value          

5.2.  Market Share & Forecast

5.2.1.     By Type Market Share Analysis (AVOD, SVOD, TVOD)

5.2.2.     By Device Type Market Share Analysis (Smart TVs & Set-Top Box, Mobile Devices & Computers/Laptops, Gaming Consoles & Streaming Devices)

5.2.3.     By Regional Market Share Analysis

5.2.4.     By Company Market Share Analysis (2022)

5.3.  Global OTT Media Services Market Mapping & Opportunity Assessment

5.3.1.     By Type Market Mapping & Opportunity Assessment

5.3.2.     By Device Type Market Mapping & Opportunity Assessment

5.3.3.     By Regional Market Mapping & Opportunity Assessment

6.    North America OTT Media Services Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value          

6.2.  Market Share & Forecast

6.2.1.     By Type Market Share Analysis

6.2.2.     By Device Type Market Share Analysis

6.2.3.     By Country Market Share Analysis         United States OTT Media Services Market Outlook             Market Size & Forecast By Value             Market Share & Forecast By Type Market Share Analysis By Device Type Market Share Analysis         Canada OTT Media Services Market Outlook             Market Size & Forecast By Value             Market Share & Forecast By Type Market Share Analysis By Device Type Market Share Analysis         Mexico OTT Media Services Market Outlook             Market Size & Forecast By Value