How Are OTT Platforms Changing The Landscape of The Media & Entertainment Industry?
More than a half-trillion dollars are at stake as a result of the digital revolution. The vast and fast-growing advances of the internet and over-the-top (OTT) video platforms are transforming television and filmed entertainment, mainly traditional TV broadcasts.
OTT television, which generates around $25 billion in yearly revenue worldwide and is mostly driven by a handful of large US-based global firms such as Netflix, Amazon, and Google’s YouTube, is at the heart of this transformation.
The US will continue to be the world’s largest OTT market, increasing at a 10.3 percent CAGR from $14.5 billion to $23.7 billion during the next five years, up to 2023.
