Subscriber video on demand (SVOD) revenue is forecast to nearly double to $70bn by 2023, according to the latest data from Digital TV Research. This follows rapid expansion for SVOD platforms, with revenue growing by 122.8% between 2015 and 2017.
Apple is the most recent player to tap into this growth, although it faces a significant challenge in battling Netflix, whose subscriber growth accelerated last year. Amazon's subscription service, including its SVOD platform, has also seen rapid growth in revenue, rising 45.7% last year to $14.2bn.
Despite linear viewing still accounting for the majority of TV time, consumption of online streaming content has grown continually since 2012. The total OTT market is estimated to be worth $68.7bn today.