The video-streaming industry is experiencing the prime of its growth and is expected to reach a market value of $1.9 trillion by 2030.
More than 3.70 billion people are using video streaming services, and an average user is subscribed to around 2.8 streaming services. The emergence and dominance of video streaming platforms like YouTube and Netflix have contributed greatly towards the growth of video streaming in 2024.
In this article, I have summed up some key statistics about the video streaming industry’s revenue, users, market share, and platforms.
Video Streaming Statistics (Top Picks For 2024)
- The global streaming market is estimated to reach over $1.9 trillion by 2030.
- The United States’ video streaming revenue is at $43.97 billion.
- 99% of U.S. households subscribe to at least one or more streaming services.
- 83% of United States consumers have a subscription to a video streaming service.
- The OTT services revenue will reach over $215 billion by 2029.
- Video Streaming has a market share of around 38.1% in the broadcasting industry.
- There are over 3.7 billion OTT users globally.
- 26% of the users spend around $21 to $30 on video streaming services.
Video Streaming Revenue Statistics
By capturing more than a quarter of the market share in broadcasting, the streaming market is experiencing a healthy cash flow in 2024.
The streaming platforms are also making the most from the active market and generating significant revenue.
The Global Streaming Market Is Estimated To Reach Over $1.9 Trillion By 2030
The streaming market revenue will grow at a CAGR of 19.3% between 2024 and 2030.
The global streaming market was valued at $554.3 billion in 2023 and will grow to an estimated $1.9 trillion by 2030.
The North American region is expected to dominate the video streaming market in the upcoming years.
Here is a table with global streaming market revenue over the next few years:
| Year | Revenue |
|---|---|
| 2023 | $554.3 billion |
| 2024* | $661.61 billion |
| 2025* | $788.64 billion |
| 2026* | $937.87 billion |
| 2027* | $1.11 trillion |
| 2028* | $1.32 trillion |
| 2029* | $1.57 trillion |
| 2030* | $1.9 trillion |
Source: Fortune Business Insights * Projected numbers considering a CAGR of 19.3%
OTT Services Revenue Will Reach Over $215 Billion By 2029
OTT revenue was estimated at $162 billion in 2023. The revenue is expected to reach $215 billion by 2029.
The revenue of the OTT services was just around $6.1 billion in 2010 and grew to over $83.34 billion in 2019.
Here is a table with OTT services revenue over the years:
| Year | OTT Revenue |
|---|---|
| 2029* | $215 billion |
| 2023 | $162 billion |
| 2022 | $154 billion |
| 2021 | $135.1 billion |
| 2019 | $83.34 billion |
| 2010 | $6.1 billion |
Source: Statista *Projected Numbers
The United States Video Streaming Revenue is Projected To Reach $43.97 Billion In 2024
The United States has the largest share of video streaming revenue worldwide.
The video streaming industry in the country is expected to generate over $43.97 billion in revenue in 2024. The revenue is expected to grow further at a CAGR of 7.52%, resulting in $54 billion by 2027.
Here is a table with the estimated video streaming revenue in 2024 by top countries and regions:
| Country or Region | Estimated Revenue |
|---|---|
| United States | $43.97 billion |
| Asia | $32.64 billion |
| United Kingdom | $4.40 billion |
| Japan | $3.25 billion |
| France | $2.47 billion |
Source: Statista
Video Streaming Market Share Statistics
The video streaming market is currently dominated by online streaming and has surpassed the traditional cable broadcast service.
Over 38.1% Of Audiences Actively Use Video Streaming
With being popular among the younger generations, video streaming has successfully overtaken cable and other broadcast services in 2024.
Standard cable broadcast still has around 30.9% market share, while video streaming has acquired over 38.1% of TV usage market share.
Here is a table with the streaming market share by services:
| Media | Market share |
|---|---|
| Streaming | 38.1% |
| Cable | 30.9% |
| Broadcast | 24.7% |
| Other | 6.3% |
Source: Nielsen
Video Streaming Users Statistics
Due to the availability of a variety of video content online, video streaming users have increased significantly over the years.
Owing to faster internet speeds and a variety of content availability, the number of people using video streaming services increased rapidly.
There Are Over 3.7 Billion OTT Users In 2024
Due to the increased number of TV, mobile, and tablet devices, the number of OTT users has been increasing consistently.
OTT users increased significantly from 2.67 billion in 2019 to 3.70 billion in 2024.
OTT users are expected to reach over 4.37 billion by 2028.
Here is a table with the number of global OTT users over the years:
| Year | Number of OTT users |
|---|---|
| 2028* | 4.37 billion |
| 2027* | 4.22 billion |
| 2026* | 4.06 billion |
| 2025* | 3.89 billion |
| 2024 | 3.70 billion |
| 2023 | 3.51 billion |
| 2022 | 3.26 billion |
| 2021 | 3.34 billion |
| 2020 | 3.08 billion |
| 2019 | 2.67 billion |
Source: Statista * Projected numbers
83% Of United States Consumers Have A Subscription To A Video Streaming Service
Only 52% of United States consumers subscribed to any video streaming service back in 2015.
The number of subscriptions in the United States increased steadily between 2016 and 2023, reaching around 83% of people having subscriptions to video streaming services.
Here is a table with the percentage of video streaming subscribers in the United States:
| Subscribers percentage | Subscribers percentage |
|---|---|
| 2023 | 83% |
| 2022 | 83% |
| 2021 | 78% |
| 2020 | 78% |
| 2019 | 74% |
| 2018 | 69% |
| 2017 | 64% |
| 2015 | 52% |
Source: Statista
69% Of The Users Aged Between 18 And 29 Years Are Binge-Watchers
Due to the easily accessible internet and streaming services, most of the younger generation are binge-watchers.
Around 70% of the viewers aged 30-44 years prefer binge-watching a show, while the remaining 30% don’t.
Here is a table with the percentage of binge-watchers by age :
| Age | Binge-watchers percentage |
|---|---|
| 13-17 years | 60% |
| 18-29 years | 69% |
| 30-44 years | 70% |
| 45-64 years | 62% |
| 65+ | 41% |
Source: Deloitte, CivicScience
An Average Person Subscribes To 2.8 Streaming Services
Around 86% of the users pay for more than one streaming subscription.
Around 38% of the consumers subscribe to at least two streaming services, while 9% of the users reported paying for more than five streaming services.
Here is a table with the percentage of people subscribing to the number of streaming services:
| Number of streaming services | Percentage of people subscribed |
|---|---|
| 1 | 14% |
| 2 | 38% |
| 3 | 27% |
| 4 | 12% |
| More than 5 | 9% |
Source: Forbes
More Than 26% Of The Users Spend Around $21 To $30 On Video Streaming Services
Around 2% of the users spend less than $10, and 3% spend more than $100 on video streaming services.
22% of the users spend $31 to $40, and over 26% of the users spend $21 to $30 on streaming services.
Around 6% reported not having an idea about their spending.
Here is a table with the percentage of users spending on video streaming services:
| Spending range | Percentage of users |
|---|---|
| Less than $10 | 2% |
| $10 to $20 | 13% |
| $21 to 30$ | 26% |
| $31 to $40 | 22% |
| $41 to 50$ | 16% |
| $51 to $100 | 12% |
| More than $100 | 3% |
| Not aware | 6% |
Source: Forbes
The Global Video Streaming Penetration Rate Is Expected To Reach 54.69% By 2028
The global penetration rate of the OTT video market is around 47.83% in 2024. This penetration rate increased by 14.78% since 2018.
Further, the global OTT penetration rate is expected to reach 54.69% by 2028.
Here is a table with the global video streaming penetration rate over the years:
| Year | Penetration rate |
|---|---|
| 2028* | 54.69% |
| 2027* | 53.19% |
| 2026* | 51.58% |
| 2025* | 49.79% |
| 2024 | 47.83% |
| 2023 | 45.7% |
| 2022 | 42.85% |
| 2021 | 44.27% |
| 2020 | 41.14% |
| 2019 | 36.03% |
| 2018 | 33.05% |
Source: Statista *Projected Numbers
OTT Users Stream Online Video Content For 17 Hours Each Week
The number of hours spent on OTT platforms streaming video content has increased since the pandemic.
In 2022, OTT viewers spent approximately 19 hours weekly on video streaming platforms, which decreased by 2 hours in 2023.
| Year | Number of hours spent on OTT platforms per week |
|---|---|
| 2023 | 17 hours |
| 2022 | 19 hours |
| 2021 | 18 hours |
| 2020 | 16 hours |
| 2019 | 14 hours |
| 2018 | 10.5 hours |
Source: Statista
Users Spend Around One Hour Per Week Looking For Something To Watch
A report from Nielsen revealed that an average user spends around 10 minutes and 30 seconds daily trying to decide what to watch. This is a 41% increase in browsing time since 2019.
Another insight suggested that one in five people give up and decide to do something else.
Source: Nielsen
OTT Video Streaming Platforms Statistics
With the rise in video streaming viewers, many digital companies have invested in providing video streaming content platforms.
Major names like YouTube and Netflix have attracted millions of users and OTT content makers to their platforms to watch and create original OTT content.
Netflix Leads The Video Streaming Platforms With Over 260 Million Subscribers
Netflix has the largest collection of movies and TV shows, which attracts millions of users to subscribe to the streaming service.
With over 23% of the United States adults streaming Netflix daily, Netflix has over 260.3 million subscribers in 2024.
Here is a table with the top streaming services subscribers count:
| Streaming Platform | Subscribers |
| Netflix | 260 million |
| Amazon Prime Video | 205 million |
| Disney+ | 150.2 million |
| iQIYI | 128.9 million |
| YouTube Premium | 80 million |
| Apple TV+ | 50 million |
Source: Wikipedia
Disney Is Set To Spend More Than $25 Billion On Streaming Content In 2024
Disney is known for its wide content network, which is available on the online streaming platform.
The video streaming platform has reported spending over $25 billion on content in 2024, which is lower than last year’s $27 billion.
Disney plans to spend around 40%, or $10 billion, on sports content and $15 billion on entertainment content.
Source: HollywoodReporter
With over 2 Billion MAUs, YouTube Is The Most Popular Video Streaming Platform In The World
Meanwhile, Netflix has over 260 million subscribers, and YouTube has over 2.7 billion monthly active users.
After Google, YouTube is the second most visited website on the internet. The platform receives over 30 million daily users who watch over a billion hours of video daily.
Here is a table with the most popular video streaming platforms globally:
| Ranking | Platform | Monthly active users |
|---|---|---|
| 1 | YouTube | 2.6 billion |
| 2 | TikTok | 1.1 billion |
| 3 ` | Netflix | 260 million |
| 4 | Prime Video | 19.7 million |
| 5 | Disney+ | 150 million |
Source: YouTube
Netflix Has The Most Costly Monthly Subscription Price
Since Netflix is the leading video streamer of current times, it also possesses the largest collection of content.
The monthly plan for Netflix is around $15.49
On the other hand, most of other popular video streaming platforms cost under $10
Here is a table with monthly subscription prices of popular video streaming platforms:
| Video Streaming Platform | Monthly subscription price |
|---|---|
| Netflix | $15.49 |
| HBO Max | $14.99 |
| Hulu | $12.99 |
| Paramount+ | $9.99 |
| Peacock | $9.99 |
| Amazon Prime Video | $8.99 |
| Disney+ | $7.99 |
| Discovery+ | $6.99 |
| Apple TV | $4.99 |
Source: Netflix
Live Streaming Statistics
Most users are indulged in watching live streams due to the increase in popularity of live streaming among Esports and gaming fans in 2024.
Due to live streaming platforms like Twitch, most creators are doing live streams from various categories.
23% Of The Global Viewing Time Is Spent On Live Streams
With the increasing recognition of Esports gaming, most gamers are opting to livestream their gameplay.
In 2024, 23% of global viewing time is spent watching live streams while 77% is spent on viewing traditional on-demand content.
In addition, 42% of people in the United States have watched a livestream.
Source: Conviva
Twitch Is The Biggest Live-Streaming Platform
With more than 140 million monthly active users, Twitch is the biggest live-streaming platform in 2024.
Over 23 billion watch hours were consumed by Twitch users in 2023, and most of those were spent watching gaming content.
Source: TwitchTracker, CNET
Conclusion
Video content is the most consumed content on the internet. Hence, the video streaming industry is prospering in 2024.
More than 3.7 billion people use video streaming services. The global video streaming market is valued at over $600 billion in 2024.
These were the most important and vital statistics about the video streaming industry and its users.
