Report Description

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.