45+ Jaw-Dropping OTT Statistics You Should Know in 2024

In previous years, the craze of OTT or Over-The-Top platforms has continuously escalated. Whether it is watching popular movies, TV shows, documentaries, or other shows, everything is available on these platforms.  People spend over an hour watching the video content on the OTT platform.

OTT platforms have become important for businesses to showcase their offerings, especially businesses in the Media and Entertainment industry. Therefore, these platforms have become popular because they contribute to the 35% growth of a VOD business. Some of the crucial benefits offered by these platforms include flexibility, reliability, and global reach.

Important OTT Statistics

With the help of important OTT statistics, a business can make predictive analysis. To know about the OTT statistics in detail, check out these noteworthy stats:

• The total number of OTT users will increase to 3.71 billion by 2024.
• Overall the revenue will reach USD 295.4 billion in 2024 and USD 476 billion by 2027.
• Revenue from OTT video advertising will reach USD 176.6 billion by the beginning of 2024.
• The average revenue per user (ARPU) of the OTT video market will be USD 59.4 by the end of 2024. 
• Most users typically spend 20 to 60 minutes per session on the OTT platform.

Key OTT Revenue Statistics

Nowadays, OTT or Over-The-Top platforms have become a cornerstone of revenue generation for streaming businesses. Also, these platforms offer a wide range of content from movies to live events. As a result, all streaming businesses use it to access a vast number of users to generate more revenue. For detailed OTT advertising statistics, consider these interesting stats:

• Revenue from OTT regarding advertising VOD or AVOD is expected to increase to more than USD 318 billion by 2027.
• OTT revenue from subscription VOD or SVOD will be over USD 139 by 2027.
• OTT revenue from transactional VOD or TVOD will be over USD 12 billion by 2027.
• 52% of the total revenue of OTT comes from AVOD and 40% from SVOD.
• The rest, 5% of the revenue comes from TVOD and 3% from video downloads.

OTT Statistics in India, USA, and China

Also, there is a notable surge in the demand for OTT streaming platforms, especially in countries like India, the USA, and China. The convenience and variety offered by an OTT platform are also the major factors leading to an increase in OTT’s popularity. Following are some of the important statistics about India, the USA, and China.

INDIA

• The total number of OTT users is more than 481 million.
• The revenue from India’s OTT market will reach USD 4.06 billion by the end of 2024.
• User penetration rate is 45.8% in 2024 and will become more than 52% by 2029.
• The average revenue per user (ARPU) of the OTT video market is USD 6.16 billion.
• Popular OTT platforms in India are Hotstar, ZEE5, MXPlayer, SonyLiv, etc.

USA

• The total number of OTT users is more than 245.3 million. 
• The revenue from the USA’s OTT market will reach USD 132.9 billion by the end of 2024.
• User penetration rate is expected to increase from 113.8% in 2024 to 120.2% by 2029.
• The average revenue per user (ARPU) of the OTT video market is USD 341.8  billion.
• Popular OTT platforms in the USA are Amazon Prime Video, Hulu, Netflix, HBO OTT, Disney+, etc.

CHINA

• The total number of OTT users is more than 620 million. 
• The number of users in the OTT market will reach 1197 million by 2029.
• The revenue from China’s OTT market will reach USD 76.11 billion by the end of 2024.
• User penetration rate is expected to increase from 68.1% in 2024 to 84% by 2029.
• The average revenue per user (ARPU) of the OTT video market is USD 77.99  billion.
• Popular OTT platforms in China are Youku-Tudou, iQiyi, Le.com, etc.

Also Read: 28+ Video Streaming Statistics

OTT Platform Statistics

OTT platforms play a crucial role in increasing the popularity of OTT in India and the world. These platforms certainly offer a wide array of OTT content choices, ranging from movies and TV shows to documentaries, according to diverse audience preferences. In addition, these platforms provide viewers with the flexibility to watch content anytime, anywhere, and on any device. A few of the key statistics related to the OTT platforms are given here.

For Netflix:

• Netflix has over 221 million active subscribers worldwide which makes it one of the biggest OTT platforms globally.
• More than 50% of Netflix users are female and 48% are male.
• Netflix has an average viewing time of 3.2 hours per day.
• 26% of Netflix users are Gen X and 18% are Gen Z.
  

For Amazon Prime:

• Amazon Prime has over 200 million active subscribers worldwide.
• More than 52% of Netflix users are female and 47% are male.
• Amazon Prime has 29% of users above 65 years of age.
• 28% of Amazon Prime users are Gen X and 12% are Gen Z.
• Movies are one of the most popular content types on Amazon Prime.
  

For Hulu:

• Hulu has over 45 million active subscribers worldwide that are growing quickly.
• More than 51% of Netflix users are female and 48% are male.
• Hulu has 19% of users above 65 years of age.
• 27% of Amazon Prime users are Gen X and 17% are Gen Z. 

Other Important Statistics

There are some valuable insights available for a business to leverage the growing trend of OTT streaming platforms. With the help of correct statistics, a business can identify popular content genres, viewing trends, and audience preferences. As a result, a business can create content according to the customer’s demand. A few of the important statistics of OTT are given here.

• An average adult consumes about 38 hours of OTT every month.
• Revenue generated by the OTT platforms in 2023 was USD 295.4. 
• The revenue of OTT platforms supporting live video streaming is expected to reach USD 184.27 billion.

Conclusion

After seeing these statistics and the rise of OTT platforms in the world, it is evident that they have a promising future. If you are also planning to get a feature-rich OTT platform, the best time is now for you to do it. With VideoCrypt’s white-label OTT platform, you can stream both live and pre-recorded videos. Together with, multi-screen support, multi-DRM security, live to VOD, etc., a 24/7 on-call customer support is also available.