Report - Global OTT Streaming And Video Subscription Predicted To Reach 2Billion By 2025!
According to a recent report by Juniper Research, globally, OTT streaming TV and video-on-demand will record up to two billion subscribers by 2025. This, according to the report, signifies a 65% increase from the 2020 figures.
The Juniper Research report called the ‘OTT TV & Video Streaming: Evolving Trends, Future Strategies & Market Forecasts 2020-2025’ attributes the expected significant uptick in subscription numbers to the fact that many traditional broadcasters are now taking streaming services seriously and are becoming aggressive in the way they are using the platform to offer content.
A press statement from the company on the report findings stated that: “Traditional broadcasters are turning to hybrid services, a combination of subscription and advertising-supported monetisation, like NBC’s Peacock, and CBS All Access, which offer tiered services that still generate subscription revenue but show advertisements in lower-priced bands to keep end-user prices down,”
The report also confirmed what has been known as a trend in the industry. It says that 70% of streaming sessions over the next five years will happen on smartphones, and this will be driven by the continued ascendancy of youth-targeted and nimble social video platforms.