United States OTT Media
Services Market is projected to grow at impressive rate during the forecast
period on account of increasing internet connectivity. According to the data
provided by World Bank, more than 90.9% of the total population in the country have
access to internet connectivity.
The OTT industry in the
United States is witnessing increased demand owing to the availability of smart
devices such as smart televisions and smartphones. There are more than 294.15
million smartphones, and more than 90% of the country's households own a
television. Among them, 50% of the population have a smart tv, significantly
influencing the demand for OTT media services in the country.
The growing popularity of
multiple advantages of OTT media services can be attributed to factors such as
it frees residents from cable subscriptions, geographical restrictions, and
broadcast schedules. Thus, the limited genre options, package flexibility,
increased gadget availability, internet usage, and cheaper costs have contributed
to increasing popularity. Due to the COVID-19 epidemic, temporary closures of
entertainment venues like theatres, box offices, and cinemas have increased
demand for over-the-top services in the United States.
In the SVOD segment, the
company earn revenue by providing subscriptions on monthly, yearly or quarterly
basis and in the AVOD segment the company earns only through by running
advertisements in the middle of the video. Additionally, in the TVOD if the
consumer spends on a specific content, then it is considered under the TVOD
type.