Global AVOD Revenue to Reach $56 Billion by 2024
Yes, ad-supported video on demand is a thing.
Digital TV Research said global revenue from AVOD distribution will nearly triple from $21.9 billion in 2018 to around $56 billion by 2024.
Global AVOD revenue will reach more than $26.7 billion this year, the research company said, with the Asia Pacific region having the highest concentration at $13.2 billion
North American AVOD revenue will grow from $6.1 billion in 2018 to nearly $7.7 billion this year, the report said. By 2024, North American AVOD platforms will be generating $20.3 billion.
Related: Roku Will Soon Have 70% More OTT Devices in Global Streaming Market Than Next Closest Competitor
In the U.S., ad-supported OTT distribution platforms, including Roku Channel, Pluto TV, Amazon Free Dive, Vudu Movies on Us, Tubi and Xumo have attracted more attention in recent months, although their revenue still isn’t on par with SVOD services
Notably, Digital TV Research said in November that SVOD platforms generated just over $35 billion in 2018. North American SVOD platforms generated $16.7 billion last year, the company added.
“The U.S. will become the AVOD leader by 2023,” said Simon Murray, principal analyst at Digital TV Research. “Several large platform launches are expected in the near future in the U.S. The U.S. will more than triple its AVOD total between 2018 and 2024 to $19.23 billion – or 34% of the global total.”
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Daniel Frankel is the managing editor of Next TV, an internet publishing vertical focused on the business of video streaming. A Los Angeles-based writer and editor who has covered the media and technology industries for more than two decades, Daniel has worked on staff for publications including E! Online, Electronic Media, Mediaweek, Variety, paidContent and GigaOm. You can start living a healthier life with greater wealth and prosperity by following Daniel on Twitter today!