The Latest Video On Demand Industry Statistics Explained
The global video on demand market size was valued at USD 56.55 billion in 2019.
The statistic indicates that the global video on demand market generated revenue amounting to USD 56.55 billion in 2019. This figure reflects the total value of sales from services that allow consumers to access and watch video content on demand, typically through digital platforms or streaming services. The market size underscores the significant growth and popularity of video on demand services, driven by factors such as increasing internet penetration, advancements in technology, and changing consumer preferences towards on-demand entertainment. This statistic serves as a key indicator of the market’s financial performance and overall impact on the entertainment industry in 2019.
The Video On Demand market in the U.S. is worth USD 109.34 billion in 2020.
The statistic “The Video On Demand market in the U.S. is worth USD 109.34 billion in 2020” represents the total value of revenues generated by the Video On Demand industry within the United States for the year 2020. This figure includes the monetary worth of all transactions related to video streaming services, rentals, and purchases made by consumers. Such statistics are crucial for understanding the economic impact and scale of the Video On Demand market, providing insights into the profitability and growth potential of this industry. Additionally, this information can aid stakeholders in making informed decisions related to investment, market strategies, and overall business planning within the Video On Demand sector.
The global video on demand market CAGR is expected to grow at a rate of 19.6 % from 2021 to 2028.
The statistic that the global video on demand market compound annual growth rate (CAGR) is projected to increase by 19.6% from 2021 to 2028 signifies a substantial growth trajectory for the video on demand industry over the specified time period. This growth rate suggests that the market is expected to expand rapidly, reflecting increasing consumer demand for on-demand video services globally. A CAGR of 19.6% indicates a strong and sustained growth trend that presents opportunities for companies in the video on demand sector to capitalize on the growing market and potentially achieve higher revenues and market share in the coming years.
74% of U.S. households have a subscription-based Video On Demand service.
The statistic “74% of U.S. households have a subscription-based Video On Demand service” indicates that a significant majority of households in the United States have access to video content through subscription services like Netflix, Hulu, or Disney+. This high percentage suggests that Video On Demand services have become a popular and widespread form of entertainment consumption in American households. The data demonstrates the growing trend of shifting away from traditional cable and satellite television towards on-demand streaming services that offer a wide variety of content at the convenience of the viewers. This statistic highlights the impact of digital technology on how people access and consume media in modern society.
The OTT Video On Demand market share is expected to reach USD 86.80 Billion by 2026.
The statistic states that the market share of Over-The-Top (OTT) Video On Demand services, which allow viewers to stream content over the internet without requiring a traditional cable or satellite subscription, is projected to reach USD 86.80 Billion by the year 2026. This forecasted market size reflects the expected growth and increasing popularity of OTT services globally, driven by factors such as the proliferation of high-speed internet access, the rise of smart devices, and the growing consumer preference for on-demand and personalized content consumption. As a significant player in the media and entertainment industry, the projected market share indicates the substantial revenue potential and market opportunities for OTT providers and stakeholders in the coming years.
Over 58% of the video on demand content viewed globally is movies.
The statistic ‘Over 58% of the video on demand content viewed globally is movies’ indicates that a majority of the content consumed on video on demand platforms around the world consists of movies. This finding suggests that movies are highly popular among viewers who use on-demand services to watch content, showcasing the enduring appeal of cinematic storytelling across diverse cultures and regions. The data implies a strong preference for movie content over other types of media such as TV shows, documentaries, or user-generated videos on these platforms. This statistic provides valuable insights for content creators and platforms looking to cater to consumer preferences and optimize their offerings to meet the high demand for movie content in the global market.
68% of viewers in the U.K. subscribe to a video on demand service.
The statistic that 68% of viewers in the U.K. subscribe to a video on demand service indicates the prevalence of this type of entertainment consumption among the population. This high percentage suggests that video on demand services are widely accepted and utilized in the U.K., potentially overshadowing traditional television viewing. Such a substantial portion of the population subscribing to these services signifies a shift in media consumption habits, likely driven by factors such as convenience, variety of content, and flexibility in viewing options. This statistic highlights the growing importance of on-demand streaming platforms in the entertainment industry and the need for traditional broadcasters to adapt to changing viewer preferences.
Asia Pacific is expected to be the fastest-growing video on demand market from 2019 to 2025.
The statistic “Asia Pacific is expected to be the fastest-growing video on demand market from 2019 to 2025” indicates that the demand for video on demand services in the Asia Pacific region is projected to grow at a faster rate compared to other regions over the specified period. This suggests a significant increase in the adoption and consumption of online streaming services in countries within the Asia Pacific region, such as China, Japan, India, and South Korea. Factors driving this growth may include increasing internet penetration, rising disposable incomes, changing consumer preferences towards digital entertainment, and the expansion of content offerings by streaming platforms. As a result, companies operating in the video on demand industry may focus on this region to capitalize on the anticipated growth opportunities and potential market expansion.
46% of TV viewers in America reported using on-demand platforms.
The statistic ‘46% of TV viewers in America reported using on-demand platforms’ signifies that nearly half of the TV viewing population in the United States have accessed on-demand platforms. This indicates a significant shift in television consumption habits, with a sizeable portion of viewers opting for flexibility and convenience in accessing content via on-demand services rather than traditional broadcast or cable television. The popularity of on-demand platforms reflects changing consumer preferences towards personalized viewing experiences, where viewers have the freedom to watch content at their convenience and choose from a wide variety of options. This statistic highlights the growing importance of on-demand services in the TV industry and the need for content providers to adapt to evolving viewing trends.
The OTT content market is set to exceed USD 413 billion by 2026.
The statistic ‘The OTT content market is set to exceed USD 413 billion by 2026’ indicates that the Over-The-Top (OTT) content market, which includes streaming services like Netflix, Hulu, and Disney+, is projected to grow substantially over the coming years. This growth reflects the increasing consumer demand for on-demand content and the shift away from traditional cable and satellite television. The projected market value of over $413 billion by 2026 suggests a significant opportunity for companies operating in the OTT space to expand their offerings and reach a larger audience, potentially reshaping the entertainment industry as we know it.
More than 60% of millennials in U.S. subscribe to a digital video service.
The statistic that more than 60% of millennials in the U.S. subscribe to a digital video service indicates a high level of engagement with online streaming platforms among this demographic group. Millennials, typically defined as individuals born between the early 1980s and mid-1990s, are often considered early adopters of technology and are known for their affinity towards digital content consumption. This statistic suggests that the majority of millennials in the U.S. have embraced digital video services for their entertainment needs, showcasing a shift away from traditional cable and satellite TV subscriptions towards on-demand and personalized viewing options. The popularity of digital video services among millennials reflects the evolving landscape of media consumption and highlights the importance of online streaming platforms in reaching and engaging with this key demographic.
Netflix owns more than 31% of the video streaming industry, the highest by any company.
The statistic states that Netflix holds a dominant position in the video streaming industry, accounting for over 31% of the market share, which is the largest share among all companies in the industry. This indicates that Netflix is the leading player in the video streaming market, with a significantly larger presence compared to its competitors. The high market share suggests that Netflix has been successful in attracting and retaining a large number of subscribers, offering a wide range of popular content and user-friendly services. As a result, Netflix’s strong market position highlights its competitiveness and popularity within the video streaming industry.
SVoD revenues are expected to reach $42.34 billion in 2020.
The statistic “SVoD revenues are expected to reach $42.34 billion in 2020” refers to the projected total revenue that subscription video-on-demand services, such as Netflix, Amazon Prime Video, and Hulu, are anticipated to generate in the year 2020. SVoD services are popular streaming platforms that offer subscribers access to a wide range of movies, TV shows, and original content for a monthly fee. The $42.34 billion figure represents the combined revenue from subscriptions and any additional revenue streams, such as advertising or licensing deals. This substantial revenue forecast underscores the growing popularity and profitability of SVoD services as more consumers shift towards digital streaming platforms for their entertainment needs.
55% of global internet users watch VOD every day.
The statistic that 55% of global internet users watch Video on Demand (VOD) content every day indicates a substantial portion of the online population engages in consuming video content regularly. VOD refers to a service that allows users to watch video content whenever they choose, exemplifying the flexibility and convenience offered by online streaming platforms. This statistic highlights the widespread popularity of VOD services across the world, suggesting that this mode of content consumption has become a common and integral part of internet users’ daily routine. It underscores the increasing trend of online video consumption and the importance of VOD platforms in today’s media landscape.
The psychological thriller genre is the most-watched VOD genre.
The statistic that the psychological thriller genre is the most-watched VOD (video-on-demand) genre suggests a specific trend in viewership preferences for on-demand entertainment content. This statistic implies that among all available genres on VOD platforms, psychological thrillers attract the highest number of viewers. This could indicate a strong interest or appeal among audiences for suspenseful, psychologically engaging narratives that evoke tension and intrigue. Understanding this trend can be valuable for VOD content creators, platforms, and advertisers looking to cater to audience preferences and optimize their offerings to meet the demand for psychological thriller content.
Approximately 80% of U.S. households subscribe to at least one paid streaming service.
The statistic states that around 80% of households in the United States are subscribers to at least one paid streaming service, such as Netflix, Hulu, or Disney+. This high percentage reflects the widespread popularity and adoption of streaming services as a primary source of entertainment and content consumption in modern society. Factors contributing to this phenomenon may include the convenience, variety of content, and on-demand accessibility offered by streaming platforms compared to traditional cable television. The statistic reveals a significant shift in media consumption habits and consumer preferences towards digital streaming services, shaping the landscape of the entertainment industry and evolving the way households access and engage with entertainment content.
By 2022, the number of connected TV users in the U.S. is set to reach 204.1 million.
The statistic indicates that the number of users in the United States who have access to connected TVs is projected to reach 204.1 million by the year 2022. Connected TVs are television sets that can connect to the internet and access online content, streaming services, and apps. This growth in connected TV users highlights the increasing popularity and adoption of digital streaming platforms and services within the American market. The proliferation of connected TVs can be attributed to factors such as the rise of streaming services like Netflix, Hulu, and Amazon Prime Video, as well as the availability of smart TVs and streaming devices. This statistic underscores the ongoing shift in how consumers consume media and entertainment content, moving away from traditional cable and satellite TV towards digital and internet-based services.
In 2022, on-demand and streaming devices will represent about 30% of the TV viewing figures.
The statistic indicates that in the year 2022, on-demand and streaming devices will account for roughly 30% of the total TV viewing figures. This suggests a significant shift in consumer behavior towards non-traditional viewing platforms, such as streaming services like Netflix, Hulu, and Amazon Prime Video. The increasing popularity of on-demand and streaming devices is likely driven by factors such as convenience, a wide range of content options, and the ability to watch programs at any time and place. This trend highlights the evolving landscape of the entertainment industry and emphasizes the importance for TV networks and advertisers to adapt to changing viewing habits in order to effectively reach their target audiences.
In 2021, Disney+ reached over 116 million subscribers.
The statistic that Disney+ reached over 116 million subscribers in 2021 indicates the significant success and growth of the streaming service within a relatively short period since its launch in 2019. This rapid expansion is likely attributed to a combination of factors such as a vast content library including popular franchises like Marvel and Star Wars, strategic partnerships, global expansion efforts, and an increased demand for digital entertainment due to the COVID-19 pandemic. The substantial subscriber base not only cements Disney+ as a major player in the streaming industry but also underscores the shift towards online streaming platforms as the preferred mode of consuming entertainment content in today’s digital age.
VOD ad spending in the US is estimated to hit over $37 billion by 2021.
The statistic ‘VOD ad spending in the US is estimated to hit over $37 billion by 2021’ indicates the projected total expenditure on video-on-demand advertising in the United States for the year 2021. The figure suggests a significant investment by companies and marketers in advertising through video-on-demand platforms, such as streaming services and online platforms. This growing trend in VOD ad spending underscores the increasing importance of digital advertising strategies and the shifting landscape of consumer behavior towards digital media consumption. The substantial amount of $37 billion signifies the valuable opportunities and competitive market within the VOD advertising sector, highlighting the continuing rise of digital advertising as a key component of marketing campaigns in the modern era.
Conclusion
The statistics presented in this blog post highlight the growth and impact of the Video On Demand industry. As consumer behavior continues to shift towards digital platforms, it is evident that Video On Demand services are becoming an increasingly popular choice for entertainment. With advancements in technology and the rise of streaming platforms, the industry is poised for further expansion in the coming years. Stay tuned for more updates and insights on the evolving landscape of Video On Demand.
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