Advertising-based video-on-demand may not receive as much attention as subscription VOD but the sector is busily racking up revenues says a report from Digital TV Research.
In its Global AVOD Forecasts report, the analyst predicts that advertising expenditure attributed to OTT TV episodes and films across 138 countries will more than double between 2018 and 2024 to reach $56 billion. Digital TV Research says that online TV and video advertising has been considerably boosted in recent years by the rapid growth in mobile advertising.
AVOD in the Asia Pacific region is long-established and reached $10.73 billion by 2018, 49% of the global total. Yet despite more than doubling to $25.14 billion by 2024, Asia Pacific’s share will fall to 45% - revealing that other regions will grow quicker. From the $34.42 billion additional revenues to be generated between 2018 and 2024, Asia Pacific will contribute $14.41 billion and North America $14.20 billion. All of the other regions will at least double their totals.
The report calculated that China is the largest AVOD country commanding 36% of the 2018 global total, with $7.78 billion. Most OTT viewing in China was found to be on mobile phones to AVOD-supported platforms. China is forecast to generate 29% of the global total by 2024 with $16.60 billion.
However, the Global AVOD Forecasts report predicted that the US will become the AVOD leader by 2023. Several large platform launches are expected in the near future in the US and the report expects the country to more than triple its AVOD total between 2018 and 2024 to $19.23 billion, 34% of the global total.
AVOD in the Asia Pacific region is long-established and reached $10.73 billion by 2018, 49% of the global total. Yet despite more than doubling to $25.14 billion by 2024, Asia Pacific’s share will fall to 45% - revealing that other regions will grow quicker. From the $34.42 billion additional revenues to be generated between 2018 and 2024, Asia Pacific will contribute $14.41 billion and North America $14.20 billion. All of the other regions will at least double their totals.
The report calculated that China is the largest AVOD country commanding 36% of the 2018 global total, with $7.78 billion. Most OTT viewing in China was found to be on mobile phones to AVOD-supported platforms. China is forecast to generate 29% of the global total by 2024 with $16.60 billion.
However, the Global AVOD Forecasts report predicted that the US will become the AVOD leader by 2023. Several large platform launches are expected in the near future in the US and the report expects the country to more than triple its AVOD total between 2018 and 2024 to $19.23 billion, 34% of the global total.
