Over-the-top refers to streaming services that deliver content through the internet over another platform, hence the name. In earlier years, consumers would have to subscribe to cable TV to supply programming; however, over the top programming uses various platforms like Spotify and Netflix.
Cable networks now offer internet connections; however, they do not dictate what you consume. This action has had a lot of impact on how content is consumed, leading to a massive expansion of over-the-top subscribers, especially during the recent pandemic.
Currently, subscription over-the-top or sub-OTT video viewing is among the most common digital activities globally. Our forecast estimates that over 1.88 billion people will use sub-OTT services once a month in 2022, which has doubled in just four years.
The number of users invested in sub-OTT video services is about the same as the number of Facebook users, YouTube viewers, and the combined total of global e-commerce shoppers. Not many digital activities or services attract billions of users; however, various platforms like Disney+, Amazon Prime Video, Netflix, and various other digital platforms have placed the sub- OTT industry on that level.
Additionally, sub-OTT has kept attracting more users quicker than other common, massively performing digital activities we track, despite its slowing growth.
We estimate that global sub-OTT users will grow by 9.1 % in 2022. This means 157.1 million more individuals will use sub-OTT services in 2022 than the previous year. However, statistics show that the number of users has decreased considerably since the pandemic’s height in 2020 by 25.5 %. This doesn’t mean that the industry has declined.
The Covid 19 pandemic did play a huge role in boosting sub-OTT’s expansion since it forced more people indoors, and the only chance of getting any products or services was through e-commerce. However, its positive influence is fading each moment with increasingly relaxed restrictions.
Projections that include 2022 conclude that 677.4 million people will have joined sub- OTT ranks over three years since the pandemic’s start. However, the predictions also state that new additions will only amount to 269.4 million over the next three years. This is still a lot of people- close to Indonesia’s population.
Sub OTT services have become almost as mainstream as YouTube. Sub OTT users will comprise 55.7 % of global digital video viewers, less than 10 % of youtube’s 63.5 %.
