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Global OTT Revenue Jumped 33% in 2018 to $68B

The global over-the-top video distribution market grew its revenue by 33% last year, reaching $68 billion, according to figures released by Digital TV Research.

Global OTT revenue was more than double the $30 billion generated in 2016.

OTT revenue reached $26.8 million in the U.S. last year, vs. $20.3 billion in 2017 and $15.6 billion in 2016.

For its part, Netflix generated $16 billion in worldwide revenue in 2018.

RELATED: Global Pay TV Revenue Peaked in 2016, Will Descend Back to 2010 Levels in Five Years

Notably, Digital TV Research found that after peaking at $205 billion in 2016, the pay TV sector’s revenue is set to crater to $75.7 billion by 2024.

“The U.S. added $6.5 billion in revenues in 2018, with China up by $3.6 billion. Therefore, the U.S. and China were together responsible for more than half the world’s additional revenues in 2018,” said Simon Murray, principal analyst at Digital TV Research, in a statement.