The United States has one of the world's largest OTT markets. The growing popularity of OTT content simultaneously liberates US citizens from cable, geographic restrictions, and broadcast schedules while also fundamentally altering the way video is sold, produced, and consumed. As a result of the limited genre options, package flexibility, increased device availability, internet penetration, and overall lower costs, adoption has increased. The increasing percentage of viewing time spent on OTT video content, combined with rising revenue figures, reflects the country's changing entertainment landscape. In the United States, approximately 64 million homes are accustomed to OTT, with the average home viewing value estimated to be around 86 hours of OTT content per month. Furthermore, nearly 66% reach homes via Wi-Fi, with OTT content genres primarily related to sports, education, and entertainment seeing rapid growth. According to the research report, "United States Over The Top (OTT) Market Overview, 2028," published by Bonafide Research, the market is anticipated to add USD 95.54 Billion by the end of 2028. Due to the increase in the number of digital video consumers, media and entertainment dominated the over-the-top market share and is expected to remain dominant during the forecast period. This will increase demand for OTT services in the media and entertainment industry. However, the communication industry is expected to grow at the fastest rate during the forecast period due to an increase in demand for over-the-top services in the telecommunications industry for video calling, voice, and messaging services. During the forecast period, SmartTVs and set-top boxes dominated the market share. Because of the larger screen and easy switching options between cable and OTT platforms. Furthermore, as smartphone penetration increased, smartphones became the second most popular device for streaming OTT platforms. They are also inexpensive, allowing people of all income levels to use smartphones and streaming platforms. During the forecasted period, subscription VOD is expected to manage the market. This is primarily due to an increase in the number of subscribers using over-the-top (OTT) platforms. Furthermore, due to the high demand for advertising videos for product and service promotion, advertisement-based VOD is steadily increasing. The market is divided into personal and commercial user types. The market is expected to be driven by the personal user segment. The growing use of smartphones and tablets, as well as easily accessible internet, raises the market's perception of OTT services for personal entertainment and knowledge.
Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally
Download SampleThe average internet bill in the United States is $64 per month. Most internet service providers offer plans starting at around $40 per month. In the United States, there were approximately 300 million internet users. At the beginning of 2022, the internet penetration rate in the United States was approximately 92% of the total population. At the beginning of 2022, 26.71 million people in the United States did not use the internet, representing 8.0 percent of the population. According to Meta's advertising resources, Facebook had 179.7 million users in the United States in early 2022. However, because Facebook only allows people aged 13 and up to use its platform, it's worth noting that 63.7 percent of the "eligible" audience in the United States will be using Facebook in 2022. At the beginning of 2022, 54.8 percent of Facebook's ad audience in the United States was female, with 45.2 percent being male. According to Google's advertising resources, YouTube had 247.0 million users in the United States in early 2022. In January 2022, YouTube ads reached 80.4 percent of the total internet user base in the United States (regardless of age). At the time, females made up 51.7 percent of YouTube's ad audience in the United States, while males made up 48.3 percent. According to Meta's advertising tools, Instagram had 159.8 million users in the United States in early 2022. In the United States, 57.2 percent of Instagram's ad audience was female, while 42.8 percent was male. According to ByteDance's advertising resources, TikTok had 131.0 million users aged 18 and up in the United States in early 2022. Meanwhile, TikTok's ad reach in the United States at the start of the year was equivalent to 42.6 percent of the local internet user base, regardless of age. TikTok's ad audience in the United States was 62.1 percent female in early 2022, while 37.9 percent male. According to Meta's advertising resources, ads on Facebook Messenger reached 6.75 million users in the United States in early 2022. According to inkedIn's advertising resources, LinkedIn had 180.0 million "members" in the United States in early 2022. According to nap's advertising resources, Snapchat had 107.1 million users in the United States in early 2022. According to Twitter's advertising resources, there were 76.90 million users in the United States of America in early 2022. There are now more subscriptions to video streaming services, such as Netflix, Amazon Prime, Hulu, HBO Max, and Disney+, than there are people in the United States. In the United States, there are now nearly 340 million subscription OTT contracts, which is more than the population of 330 million. The pandemic and stay-at-home measures, the launch of new studio-backed subscription services, and increased rates of service stacking all contributed to the market. In the United States, The Walt Disney Company announced that its Disney+ service had reached 10 million subscribers after its initial launch, placing it fourth on the list. In addition, Netflix had 69.97 million US subscribers. The US subscriber base accounts for roughly one-third of Netflix's global streaming subscriber base. The COVID-19 has increased in viewership and streaming hours, and the lack of new films in theatres benefits OTT platforms as well. SVOD has grown in popularity during the lockdown. In the early stages, hybrid services with an ad-supported business model, such as CBS All Access and Hulu, saw an increase in advertising revenues. According to The Trade Desk's second Future of TV survey of over 2,100 US consumers, 27% of US cable TV subscribers planned to cancel their subscriptions by the end of 2021. This is consistent with the shift toward OTT services observed during COVID-19.
The US OTT market is seeing increased competitive rivalry as more companies enter the market, resulting in market consolidation. In addition, television broadcasters are entering the market, either by developing their own app or platform or by investing in another OTT platform. Most TV cable operators are expected to invest in these business models in the coming years to establish their presence in the industry. Furthermore, OTT services and platform providers have been actively engaging through new launches, collaborations, multiple device integrations, and so on. Given the recent wave of media mergers and acquisitions, US market vendors are collaborating to compete with fellow streaming services. • May 2021 - HBO Max announced that it would launch an ad-supported (AVOD) version of its streaming service in the first week of June, expanding its consumer offerings. HBO Max AVOD would cost USD 9.99 per month, which is USD 5 less than the ad-free version. • December 2020 - ViacomCBS' subscription streaming service, CBS All Access, has added new family features as well as more Nickelodeon and Nick Jr content. One of the most recent family-friendly features is the ability to create up to six profiles per account, with each profile managed using "Kids Mode," which allows parents to create profiles that limit content to older or younger children based on content ratings. Recent Developments in the US OTT Market • September 2021 - Netflix acquires the Roald Dahl Story Company, gaining access to the entire catalogue of works by the renowned British author. Netflix intends to develop a universe of Dahl-inspired projects, including animated and live-action films and television, publishing, games, immersive experiences, live theatre, and consumer products. • July 2021 - Amazon Prime Video and IMDb TV have reached an agreement with Universal Filmed Entertainment Group to licence their content. According to the terms of the agreement, Prime Video will have an exclusive pay-one window in the United States for Universal's slate of live-action films.
Considered in this report • Geography: United State • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • United States Over The Top (OTT) market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type: • AVOD (Advertising-based Video On Demand) • SVOD (Subscription Video on Demand) • TVOD (Transactional Video on Demand) • Others By Device Type: • Smartphones and Tablets • Desktops and Laptops • Smart TVs & Set-Top Box • Gaming Consoles & Streaming Devices By Content Type: • Video Streaming • Game Streaming • Audio Streaming • Communication By Service Verticals: • Media and Entertainment • Education and Learning • Gaming • Service Utilities By User Type: • Personal • Commercial By Component Type: • Solution • Services The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Over The Top (OTT) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
We are friendly and approachable, give us a call.