BOSTON–(BUSINESS WIRE)–Strategy Analytics forecasts that global consumer and advertising spend on TV and video will grow from $490B in 2017 to $559B in 2022, an increase of $69B. Spend on OTT video will account for 90% of this growth, according to Strategy Analytics’ Television & Media Strategies (TMS) report, “TV’s Transformation: A Unified TV and Video Market Perspective.” https://www.strategyanalytics.com/access-services/media-and-services/in-the-home/tv-media-strategies/tv-media-strategies/reports/report-detail/tv-s-transformation-a-unified-tv-and-video-market-perspective
Consumer spend and digital video ad revenue from OTT video services such as YouTube, Facebook, iTunes, Google Play, Netflix, Amazon Prime Video, Hulu, DirecTV Now, NOW TV, Maxdome, iflix, and other online video services will double over the forecast period, reaching $123B in 2022.
“OTT TV and video services will be the driving force behind future revenue,” according to Michael Goodman, Director, Television & Media Strategies, “however, traditional TV and video services should not despair too much, as they will continue to account for the majority of consumer and advertising spend for the foreseeable future.”
By 2022, consumer and advertising spend on traditional TV and video products and services globally will be over $435B, an increase of $7B from 2017, and account for nearly 78% of all TV and video revenue.
Additional findings from this report include:
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Source: Business Wire Entertainment News