Over the Top Market

The global Over-The-Top (OTT) Market size is expected to grow from USD 202.5 billion in 2022 to USD 434.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period.

OTT services are used to deliver audio, video, rich media, and other media content over the internet without the involvement of any traditionally laid cable or broadcasting players. OTT services are predominantly delivered over the end user’s handheld devices, such as smartphones, tablets, and laptops, through a wireless connection over the internet. OTT services are further being spread over other communication modes, such as audio and video. The major factors driving the growth of the OTT services market include rise in the demand of OTT services during lockdown, internet proliferation with penetration of smart devices along with flexibility and ease-of-use to offer seamless customer experience.

Top OTT Companies includes :

• Meta (US)
• Netflix (US)
• Amazon (US)
• Google (US)
• Apple (US)
• Home Box Office (US)
• The Walt Disney Company (US)
• Fandango Media (US)

To cope up with high competition in the OTT space, major vendors have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product enhancements, to expand their presence in the OTT services market. The demand for original content is seen as one of the major demand among viewers on OTT video streaming platforms. In lieu of this, vendors have come up with various original contents in the form of movies, series etc. to retain the customer base. Partnerships and collaborations was also one of the strategies adopted by major players from 2019 to 2021, which helped companies to come up with new content and broaden their customer base.

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Netflix:

• Netflix is one of the leading players in the OTT services market. Netflix has focused on penetrating the Asia Pacific market, driven by volume, by adopting price-sensitive strategies. Netflix has also diversified its business to other sectors, such as education and fashion. Due to its features, user-friendliness, and robust, variety-filled catalog, Netflix has earned an Editors' Choice Award for 2022. With the addition of an ad-based subscription, the platform is on equal footing compared to competitors like Disney Plus and HBO Max when it comes to pricing. Netflix has over 222 million paid memberships across 190 countries. The platform offers TV series, documentaries, and feature films across a wide variety of genres and languages. In 2021, the company added mobile games to its services.

Amazon:

• Amazon with its SVoD platform, Amazon Prime Video, is another leading OTT services provider across the globe. With Prime Video, users can rent or purchase titles or select from more than 150 Prime Video Channels, including Showtime, HBO, CBS All-Access, Cinemax, and STARZ. Amazon has partnered with several other OTT players and companies to improve upon content availability on its platform. In June 2022, Amazon Prime Video partnered with American entertainment company AMC Networks to offer its content on Prime Video channels in India. As part of the partnership, Amazon Prime Video would offer ad-free subscription service AMC+ and AMC’s streaming service Acorn TV on Prime Video channels in India on a subscription basis.

Meta (US) :

• Formerly known as Facebook, Meta Platforms, Inc. is a major player in social networking and technology. The company has expanded its footprint in the OTT market through Facebook Watch, which offers a variety of original and user-generated video content. Meta's other platforms, like Instagram and WhatsApp, also support video content.

Google (US)

• Google LLC, a subsidiary of Alphabet Inc., is a global leader in technology and internet services. Google’s primary OTT offering is YouTube, one of the largest video-sharing platforms, which provides a vast array of content from music videos and vlogs to full-length movies and TV shows. Additionally, YouTube TV offers live TV streaming.

Apple (US):

• Apple Inc. is renowned for its consumer electronics, software, and digital services. In the OTT space, Apple TV+ offers a range of original programming, while the Apple TV app provides a centralized hub for various streaming services, enabling users to access different content providers in one place.

Home Box Office (HBO) (US)

• HBO, part of Warner Bros. Discovery, is a premium television network known for its high-quality original content, including series, films, and documentaries. HBO Max, its OTT service, combines all of HBO's programming with additional content from WarnerMedia's vast library.

The Walt Disney Company (US):

• The Walt Disney Company is a diversified multinational entertainment and media conglomerate. Disney+ is its flagship OTT service, offering a vast library of content from Disney, Pixar, Marvel, Star Wars, and National Geographic. Disney also owns Hulu and ESPN+, providing a comprehensive streaming bundle.

Fandango Media (US):

• Fandango Media, LLC is a digital network known for movie ticketing services and film information. It has expanded into the OTT market through FandangoNOW, which merged with Vudu, offering movie rentals and purchases, along with streaming options.

These companies are significant players in the OTT market, each offering a unique mix of content and services to cater to various audience needs and preferences.

Related Reports:

Over the Top Market by Type (Game Streaming, Audio Streaming, Video Streaming and Communication), Monetization Model (Subscription-based, Advertising-based, and Transaction-based), Streaming Device, Vertical and Region - Global Forecast to 2027