Ad-Supported Video on Demand Market Set to Expand at 14.2% CAGR, Reaching US$ 150.8 Billion by 2034

The global ad-supported video on demand market is assessed to be worth US$ 40.12 billion in 2024. Projections indicate a substantial growth trajectory, with revenue from ad-supported video on demand solutions expected to soar at a Compound Annual Growth Rate (CAGR) of 14.2%. By the conclusion of 2034, the market is anticipated to achieve a remarkable market value of US$ 150.8 billion. This robust expansion underscores the increasing popularity and viability of ad-supported video on demand platforms as a dominant force in the global media and entertainment landscape, driven by evolving consumer preferences and the growing prominence of digital advertising. 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.

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. 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.

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Market Insights

Insights into the AVOD market reveal a growing preference among consumers for free, ad-supported content streaming. As subscription fatigue sets in and consumers seek cost-effective alternatives to traditional cable and satellite TV, AVOD platforms provide an attractive option. Furthermore, advancements in ad targeting and personalization technology enable AVOD providers to deliver relevant and engaging advertisements to viewers, enhancing the overall viewing experience. This targeted advertising approach benefits both advertisers, who can reach their desired audience with precision, and viewers, who receive tailored content recommendations based on their interests and viewing history.

The outlook for the AVOD market is optimistic, with continued growth expected in the coming years. As advertising budgets continue to shift towards digital channels, AVOD platforms stand to benefit from increased ad spending and a growing pool of advertisers looking to reach consumers in a fragmented media landscape. Moreover, the global reach of AVOD platforms and the accessibility of content across multiple devices further contribute to market expansion. With the proliferation of smart TVs, smartphones, and connected devices, AVOD services have become an integral part of the modern media ecosystem, offering advertisers unparalleled reach and engagement opportunities.

List of Key Companies Profiled in The Report

YouTube
Apple Inc.
Cisco Systems, Inc.
VUDU Inc.
IndieFlix
HBO Home Entertainment Inc.
Compact Corp.
Others

Market Opportunities

Opportunities abound in the AVOD market as platforms continue to innovate and expand their offerings to meet the evolving needs of consumers and advertisers. With the proliferation of streaming services and the fragmentation of the media landscape, there is a growing demand for aggregation and discovery tools that help viewers navigate the vast array of content available on AVOD platforms. Additionally, opportunities exist for advertisers to leverage data-driven insights and analytics to optimize their ad campaigns and improve targeting and effectiveness. Furthermore, partnerships and collaborations between AVOD platforms and content creators offer opportunities for exclusive content deals and original programming, further enhancing the value proposition for viewers and advertisers alike.

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Competitive Landscape

Within the market environment, leading players are forging alliances with strategic partners to fortify their presence across diverse markets. These collaborations are pivotal in enriching their service offerings and expanding their audience reach, reflecting a commitment to innovation and growth amidst the ever-changing landscape of ad-supported video-on-demand trends.

By joining forces and pooling resources, these companies are positioning themselves as frontrunners in the global market. Strategic partnerships serve as accelerators for expansion, enabling them to establish a strong foothold in the cloud streaming market.

In July 2021, Carlyle Group finalized the acquisition of LiveU, a prominent player in live video streaming, for an estimated value of around US$ 400 million. This strategic move enhances the capabilities of the video transmission and streaming service, bolstering its competitive edge.

Similarly, in May 2021, AT&T made headlines with its landmark agreement to merge its content division, Warner Media, with Discovery, Inc. This transformative deal brings together AT&T's renowned properties such as HBO, CNN, and Warner Bros. with Discovery Inc.'s impressive lineup of channels including TLC, Animal Planet, and the Discovery Channel.

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This release was published on openPR.