Ad-Supported Video On Demand Market Expected To Hit US$150.8 Billion With A 14.2% CAGR By 2034: Fact.MR Study

Rockville, April 18, 2024 (GLOBE NEWSWIRE) -- According to the latest industry analysis by Fact, the global Ad-Supported Video on Demand Market is expected to reach a value of US$ 40.12 billion in 2024. The market has been forecasted to expand at a CAGR of 14.2% between 2024 and 2034.

OTT platforms have revolutionized how the world accesses content, allowing users to stream media directly over the Internet without the need for traditional cable or satellite subscriptions. With the convenience and flexibility they offer, OTT services such as Netflix, Amazon Prime Video, and Disney+ have witnessed exponential growth in the number of subscribers.

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Along with the rise of subscription-based models, there is a significant number of users who prefer free content, though these are supported by ads. Ad-supported video-on-demand platforms cater to this segment by providing a vast array of movies, TV series, and other content at no cost to the viewer. This model resonates particularly well with cost-conscious consumers who seek quality entertainment without having to bear the financial burden of subscriptions.

Key Segments of Ad-Supported Video on Demand Market Research Report

The appeal of ad-supported video on demand goes beyond just cost savings for customers. These platforms have extensive libraries of content, including both licensed and original productions, ensuring there's something for everyone. Moreover, the ad-supported model enables advertisers to target their audience more effectively, leading to more relevant and engaging advertisements.

Key Takeaways from the Market Study

• The global ad-supported video-on-demand market is projected to expand at a CAGR of 14.2% through 2034.
• Global sales of ad-supported streaming services are estimated at US$ 40.12 billion in 2024.
• The market is forecasted to reach US$ 150.8 billion by 2034-end.
• The North American market is projected to expand at a CAGR of 13.3% through 2034.
• The travel & tourism segment is set to account for 33.3% market share in 2024.
• East Asia is projected to account for a 38.4% share of the global market by 2034.

“Growth in the popularity of ad-supported video on demand is being driven by the rising popularity of streaming devices and their features such as voice control and app compatibility. These enhancements are in alignment with the demand for a personalized user experience,” says a Fact analyst.

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Market Competition

As key players in the market are vying for supremacy, they are investing substantially in content acquisition, production, and technology to stay ahead of the curve. The competition in the market is driving innovation and pushing boundaries, ultimately benefiting consumers with an abundance of high-quality entertainment options at their fingertips.

• Amazon Prime Video, with its vast catalog of movies, TV shows, and original productions, aims to entice subscribers with exclusive content and seamless integration with its e-commerce ecosystem. Meanwhile, Apple TV+ leverages its unique blend of original programming and high-profile partnerships to attract audiences to its platform, emphasizing quality over quantity.
• Netflix, a pioneer in the streaming industry, continues to dominate with its extensive library of content and innovative approach to storytelling. The streaming giant invests heavily in original productions, ensuring a steady stream of fresh and engaging material to keep subscribers engaged.
• Hulu, known for its diverse selection of content ranging from current TV episodes to classic films, focuses on catering to a wide range of viewer preferences. Its ad-supported tier offers a compelling alternative to subscription-based services, drawing in viewers with a mix of licensed and original content.

More Valuable Insights on Offer

Fact, in its new offering, presents an unbiased analysis of the ad-supported video on demand market for 2018 to 2023 and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on content (media & entertainment, travel & tourism, sports) and streaming device (smart TVs, laptops & desktops, smartphones & tablets, other OTT devices), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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