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March 4, 2024
The digital sales of movies and TV shows, combined with transactional VOD in North America is projected to reach a combined $7.3 billion in 2029 — up almost 9% from $6.7 billion in revenue in 2024, according to new data from Digital TV Research. This year’s tally is projected to increase $400 million from $6.3 billion in 2023.
The London-based research firm contends overall North American OTT revenue will reach $100 billion in 2029; up from $81 billion in 2023. The U.S. will contribute $16 billion from the $19 billion additional revenue, with Canada supplying the remainder. U.S. revenue will reach $92 billion in 2029.
North American ad-supported VOD revenue will increase 47% from $17 billion in 2023 to $25 billion in 2029. SVOD revenue will climb 17.5% from $57 billion in 2023 to $67 billion through 2029.
“Despite being the most mature OTT market by some distance, the U.S. sector continues to grow as cord-cutting show few signs of abating,” analyst Simon Murray wrote in a note. The U.S. is a unique market for digital [transactional/streaming] revenue, given the poor state of the pay-TV market and the wide OTT streaming choices.”