Entertain the world with your on demand tv or video streaming apps.
The global on demand tv or video streaming apps was worth $42.6 billion in 2019. It is expected to grow 20% per year. It means video streaming apps will reach $180 billion by 2027.
Wherein Netflix revenue was more than $7 billion in Q2 2021. It shows around 25% of growth over the previous year. So let’s drive into the over-the-top or video streaming apps world.
Here in this blog, I will give you the reasons to invest in on demand tv apps, video streaming apps, or app similar to Netflix.
Here are some real statistics from the video streaming apps that are dominating the market
In many countries, productions and artists stream their movies, TV/web shows, and more via on demand tv or video streaming apps. Therefore, an app for tv proves to be a blessing in the COVID pandemic for the entertainment market.
Netflix has 36 million new subscribers in 2020, with around 200 million subscribers in total. Therefore if you are planning an app similar to Netflix, make sure you provide the facility that Netflix users are admiring.
Hulu has more than 39 million subscribers. Amid COVID 19, SBS on demand app manages to climb 8.2 million users in Australia via its digital platform. It is a tv app that is growing more than ever before.
Peacock streaming app has 54 million users as of the 2nd quarter of 2021. It was in loss till 2019, but as of the last quarter of 2020, it managed to generate $100 million of revenue. Also, Tokyo Olympics boosted its download by 96% in July 2021.
Disney+, another app for tv that started in November 2019 and got 116 million subscribers worldwide. It means Disney+ got more popularity than other tv or video streaming apps that are dominating the market. Do you know the reason behind it? It is Disney+ has new and peculiar video content that people like the most.
Amazon prime is Netflix’s closest competitor as they hold more than 200 million subscribers. Also, Youtube has more than 2 billion monthly active users. Wherein they have around 30 million viewers who watch more than a billion hours of video daily.
This video is all about why you should invest in OTT platforms. To clarify the latest statistics about the video streaming apps or on demand tv app check it out.
Revenue growth and projected revenue of the apps that are dominating the market.
Let’s check the growth, popularity, and expectation of streaming apps in the USA and UK to clear your investment doubts.
If we talk about the USA, its video streaming apps market has the highest revenue per user. The US tv or video streaming apps revenue was $18.0 billion and reached $24.1 billion in 2020.
Many people have started investing in apps for tv on-demand after observing the demand for apps similar to Netflix. The video streaming or on-demand tv apps market in the USA is projected to reach $41 billion by 2025.
UK television has the most popular shows of the last two decades and also includes award-winning dramas. UK on demand tv or video streaming apps revenue was 2 billion pounds and reached 3 billion pounds in 2020.
British content got more popular than others and the world can see its value with the global success of many tv series. It was all because Netflix, and amazon spend more on British programming. The video streaming or on demand tv apps market in the UK is projected to reach 4.8 billion pounds by 2025.
The Bottom Line
I am sure, the facts will inspire to entertain people with unique content on your TV App. If you have an idea of starting an entertainment app, SBS on demand app, pluto tv on demand, or App similar to Netflix, get in touch with us. Our experts can build a better app for you that becomes the talk of the town.
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