The live streaming market is expanding at a breakneck pace. Some people, however, are still unsure if incorporating professional video streaming into their business is worthwhile.
We’ve compiled a list of the top streaming statistics to demonstrate the industry’s growth and current position. These figures shall be able to present a better picture of what live streaming could do for your business.
There is a great deal of fresh material to provide, as well as a lot of ground to cover. So, let’s jump straight to the stats.
OTT Market Growth
- In 2020, the global OTT market was estimated to be worth $121.11 billion.
- From 2020 to 2027, the global OTT market is expected to reach $1,039.03 billion, increasing at a CAGR of 29.4%.
- By 2025, user penetration is predicted to reach 34.8%, up from 30.3% in 2021.
- In 2025, 19 nations will surpass $1 billion in OTT revenue, up from 13 countries in 2019.
- OTT Video Advertising is the largest segment, with a market volume of US$89,459 million in 2021.
- OTT traffic increased by 198% globally in April alone.
- Between 2019 and 2025, revenue in the United States will double, from $33 billion to $68 billion. China will expand more slowly this year and next (especially in AVOD), before resuming a quicker growth path.
OTT Services Outlook
- Netflix is the world’s largest OTT video streaming service, with more than 200 million paying subscribers globally.
- In the United States, there are over 300 OTT providers, with popular video-on-demand platforms like Netflix, Hulu, Amazon Prime, and Disney Plus.
- In 2021, Netflix will spend more than $19 billion on video content.
- Every month, more than 2 billion logged-in users visit YouTube. Every day, over 30 million people watch over a billion hours of video content on the network.
- Disney+ has topped 100 million subscribers globally in less than a year and a half. It now has more subscribers than Hulu (38.8 million subscribers), Peacock (22 million), and CBS All Access (17.9 million) all together.
- SVOD accounted for more than $61 billion in 2020 and more than $98 billion in 2025, representing around 58% of entire OTT revenues.
- In 2020, AVOD generated more than $26 billion, but by 2025, it is expected to be more than double, amounting to more than $53 billion.
- YouTube receives an astonishing 1 billion views per day.
- Over 70% of YouTube’s overall watchtime is on mobile devices.
- Top 3 distribution channels for video content are Website (85%), social media (84%), and YouTube (67%).
- From 2020 to 2027, the global over-the-top devices and services market is predicted to develop at a compound annual growth rate (CAGR) of 18.6%.
- 66% of connected flat-panel TVs will be 4K by 2023.
- The number of devices connected to IP networks is expected to increase three times of the global population by 2023.
- According to a Cisco analysis, video and other applications continue to be in high demand in homes, however, there will be huge bandwidth demands with future application requirements, even beyond the prediction period of 2023.
The Streaming Devices Market is anticipated to be worth over USD 5 billion, with 60 million devices shipped in 2016, and is expected to expand at a CAGR of over 22% from 2017 to 2024.
- As per Cisco, live video will have grown 15-fold and will account for 17% of all internet traffic by 2022.
- According to a recent analysis by Conviva, live video generates 27% more minutes of watch time per viewing, around 6 minutes more than an average of 41 minutes against video on demand.
- The market for live video streaming is anticipated to reach $247 billion by 2027.
- According to State of Digital Publishing, user-generated content accounts for 51% of live video material streamed on smartphones.
In the last two years, 60% of the top 100 most popular YouTube live streams have occurred.
- As per Google reports, YouTube reaches more 18- to 49-year-olds weekly than all cable TV networks combined. In the United States, watch time for shopping-related content on YouTube has increased by more than 5X in the last two years.
- According to the 14th edition of Deloitte’s Digital Media Trends Study, US users have accounts with an average of four streaming video services.
- Watching video content accounts for 33% of people’s internet time.
- According to Forbes, 27% of viewers aged 45 and older use an SVOD service on a daily basis.
- Three or more streaming services are used by 49% of customers.
- The average person spends approximately 2 hours and 20 minutes per day watching video content on the internet.
- In 2019, satellite and television companies lost 6 million customers, significantly reducing traditional TV viewing time.
- As per the British Association for Screen Entertainment (BASE) , consumer spending on digital movie purchases increased by more than 87% during the COVID-19 pandemic shutdown period through June 30 reaching GBP 113 million (USD 148 million).
- According to Zuora’s Subscription Economy Index Report, trends of the COVID-19 influence on subscriber acquisition rates from March 1-31, 2020, in contrast to the preceding 12 months, revealed that the global subscription growth rate for OTT Video Streaming firms increased 7x in March 2020.
- Cisco reports suggest that online videos will account for more than 82% of all consumer internet traffic by 2022, a 15-fold increase from 2017.
- Nielsen Total Audience Reports state that 84% of customers consider cost while choosing a streaming service as an extreme or very significant factor.
- 80% of customers would rather watch a live video than read a blog.
- As per PwC, only 12% of consumers can easily find content on streaming services.
- According to a Nielson survey, roughly 40% of internet and mobile video viewers are between the ages of 13 and 34.
- Video content is preferred by 72% of consumers when learning about new products.
- The first 30 seconds are watched by 33% of viewers, followed by 45% who watch for less than a minute.
- A video is twice as likely to be shared as any other type of material.
- Cisco research suggests that video content will account for 82% of Internet traffic by 2022.
Smartphone video consumption is expanding at a rate of 100% year over year.
Rise of Video Marketing
- YouTube is the most extensively used video platform with being the preference of 85% of marketers.
- As part of their social media marketing plan, 73% of marketers produce at least 2 videos per month.
- On Facebook, video postings get 73% higher engagement than photo posts.
- According to Nicola Mendelsohn, President of Facebook’s operations in Europe, the Middle East, and Africa, Facebook will be 100% video content based platform by 2021,.
- A report by Wyzowl suggests that 85% of consumers want to watch more videos from companies.
- Companies that use video features have a 49% higher revenue growth rate than those who don’t.
- Video is now used by more than 81% of enterprises, up from 63% in 2019.
- If a website’s URL contains a video, the chances of it ranking on Google’s main page increase by 53 times.
- According to a Wyzowl survey, 89% of video marketers believe video provides a decent ROI, and 83% believe video helps in lead generation. Video has increased traffic to 87% of video marketers’ websites, and has increased sales for 80% of video marketers.
- YouTube counts a view after a viewer has watched at least 30 seconds of a video, however, a view on Facebook is recorded after only 3 seconds.
- According to Wyzowl, nearly 9 out of 10 video marketers want to use YouTube as part of their content strategy in the coming year. With 76%, Facebook isn’t far behind.
- Emails with video links have a higher click rate of up to 65%.
- Short videos were selected by two-thirds of buyers as their preferred means of learning about a new product.
eSports and Professional Gaming
- The worldwide eSports market was worth slightly over 1.08 billion dollars in 2021.
- The global eSports market revenue is predicted to reach over 1.62 billion US dollars in 2024, indicating that the business is expected to grow fast in coming years.
- During the projection period 2021-2026, the APAC is predicted to have the largest eSports market share.
- The cloud gaming market is expected to grow at a CAGR of 41.9% from USD 92 million in 2019 to USD 1091.6 million by 2026.
- According to Influencer Marketing Hub, 55% of Twitch (a major gaming network) users are between the ages of 18 and 34.
5G Technology Impact
- According to a new analysis commissioned by Intel and conducted by Ovum, 5G will revolutionize the media and entertainment industry by generating $1.3 trillion in revenue by 2028.
- Video will account for 90% of 5G data while AR and VR will reach a tipping point.
- As forecasted by Ovum, demand for video data alone is predicted to increase from 11.7GB per 5G user in 2019 to 84.4GB by 2028.
- Mobile video revenues will expand at an 85% CAGR between 2021 and 2028, giving B2B and B2C network providers a major boost.
- As the global market for mobile display advertising is expected to reach $178 billion by 2028 ($66.6 billion in the United States), the digital advertising market will be positively impacted.
- AR games will be leading with more than 90% of AR revenues by 2028 ($35.7 billion globally), as 5G is set to unfold futuristic innovation to the gaming business.
- Companies that adapt to new business models brought on by 5G will prosper, as greater network capabilities will boost yearly media revenues to $420 billion by 2028 ($124 billion in the United States).
Music Streaming & Podcasts
- According to the International Federation of the Phonographic Industry, the global recorded music market expanded by 7.4% in 2020, marking the 6th consecutive year of growth (IFPI).
- The global podcasting market was worth USD 9.28 billion in 2019 and is predicted to increase at a 27.5 percent compound annual growth rate (CAGR) from 2020 to 2027.
- IFPI’s Global Music Report suggests the total revenues for 2020 to be US$21.6 billion.
- Revenues from paid subscription streaming climbed by 18.5%. By the end of 2020, 443 million people had paid subscription accounts.
- Total streaming revenue (including paid Subscription and Advertising-supported) increased by 19.9% to $13.4 billion, accounting for 62.1% of global recorded music revenues.
- There are almost 1,950,000 active podcasts, with over 47 million episodes as of March 2021.
- Latin America remained the fastest-growing region in the world (15.9%), with music streaming revenues increasing by 30.2% to account for 84.1% of the region’s total revenues.
- Revenues increased by 3.5% in Europe, the world’s second-largest recorded music area, as strong music streaming growth of 20.7% offset drops in all other consumption formats.
- Spotify, Apple, and Deezer among others currently account for 62.1% of global music income.
And that’s a wrap!
These live streaming statistics offer a picture of a thriving industry. Businesses that want to interact in a more impactful way with their customers are wise to prefer live streaming and on-demand video content in sales, marketing, training, and other areas.
We hope that these figures have provided you with a clear picture of the OTT and streaming sectors’ tremendous expansion.
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