The Global Over the Top (OTT) Services Market size is expected to reach $179.9 billion by 2025, rising at a market growth of 14.3% CAGR during the forecast period

New York, Feb. 14, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Over the Top (OTT) Services Market (2019-2025)" - https://www.reportlinker.com/p05862272/?utm_source=GNW
The key driving factors for the OTT services market include smartphone penetration and accessible high-speed mobile internet packages. The connectivity of the smart devices with these OTT services has allowed access to them from anywhere and at any time.

The mobile channel is becoming a commonly accepted video delivery platform, overtaking traditional TV as the leading channel for production. Even with TV billing provisions and fixed broadband bundling, mobile is rapidly developing to become the prevalent service distribution channel for growth. As MNOs accelerate the rollout of mobile broadband and LTE, access to high-quality mobile streaming is rising, particularly in emerging countries like the Asia Pacific, Africa, and the Middle East. At the same, the rise in MNO partnerships and bundling packages allows consumers to access more content on their mobile devices.

Traditional media houses which formerly owned vast archives of legacy movies and television content reinvigorate and accelerate their growth through OTT-based distribution models. Most pay-TV providers are introducing stand-alone OTT-based subscription services. Dish’s Sling TV and AT&T’s DirecTV Now are successful examples of the US-based affordable and stand-alone services. Sky has introduced OTT services in key European markets, including the UK, Italy, Germany, and Austria. As subscribers make a concerted effort to pay for premium content, OTT players come up with "freemium" models that can provide open access to a selected catalog of content to acquire new subscribers together with premium content and services to pay subscribers to drive up average revenue per user. The free content business model that is funded by ad-supported advertising is a challenging proposition, as seen by the global leaders of digital online music: iHeartRadio, Spotify, and Pandora.

Based on Monetization Model, the market is segmented into Subscription-Based, Advertising-Based and Transaction-Based. Based on Service Vertical, the market is segmented into Media & Entertainment, Gaming, Education & Learning and Others. Based on Streaming Device, the market is segmented into Smartphones & Tablets, Desktops & Laptops and IP TV’s & Consoles. Based on Type, the market is segmented into Video on Demand, Online Gaming, Music Streaming, Communication and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.

The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Google, Inc., Microsoft Corporation, and Apple, Inc. are some of the forerunners in the Over the Top (OTT) Services Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Twitter, Inc., Microsoft Corporation, Google, Inc., Amazon.com, Inc., Apple, Inc., Facebook, Inc., Netflix, Inc., The Walt Disney Company (Hulu LLC), Tencent Holdings Ltd., and Roku, Inc.

Recent strategies deployed in Over the Top Service (OTT) Market

Partnerships, Collaborations, and Agreements:

Jna-2020: Roku in partnership with Vevo for offering curated music video channels. These new channels include Vevo Classic Rock, Vevo Country, Vevo EDM, and Vevo Pop.

Dec-2019: Google Nest partnered with Booking.com, a leader in online travel making it easier for everyone to experience the world. Under the partnership, the companies aim towards developing a connected and seamless trip experience for hosts and travelers. Nov-2019: Amazon partnered with RedBus, an online bus ticket booking platform and launched a private bus ticket booking service. Amazon customers’ have the access to RedBus features such as live tracking of buses, bus service ratings by passengers, bus number and contact information of staff before departure.

Nov-2019: Amazon came into partnership with BookMyShow, an online ticket booking platform. Through this partnership, Amazon customers have access to buy movie tickets from its own app. This partnership was aimed at boosting e-commerce firm, Amazon’s effort in becoming a one-stop-shop for all the online consumer transactions.

Nov-2019: Apple came into partnership with PlayNetwork, a provider of in-store music and entertainment. This partnership is aimed at playing music at retail stores. The businesses can sign up to Apple Music for business plans and can get the licensed music to play in their retail locations with Apple providing human-curated playlists.

Nov-2019: Tencent signed a partnership agreement with Symphony, a provider of secure cloud collaboration for global markets. The partnership has been aimed at connecting the Weixin platform (known as WeChat outside mainland China) with Symphony’s community of 450,000 global market professionals. This integration enables the two major communities in connecting and conducting businesses through their favorite applications.

Oct-2019: Netflix collaborated with Doppio Games, a conversational game company. The collaboration was aimed at creating voice-controlled games and entertainment, starting through the free multiplayer game, the 3% Challenge. This game was created as a prequel besides Netflix’s critically-acclaimed original series, 3%.

Sep-2019: Netflix announced its partnership with Canal Plus Group, a French Film, and Television studio company. In the partnership, the streaming services were included in Canal Plus Bundles. It gave the subscribers with Canal Plus’s Ciné Séries package access to Netflix service as well as a premium channel, under one subscription.

Sep-2019: Microsoft announced its collaboration with SK Telecom, a wireless telecommunications operator. The collaboration was aimed at delivering 5G cloud-based gaming in Korea. Microsoft’s game streaming technology, Project xCloud, enables the gamers to play the games on mobile devices while connected to the internet.

Aug-2019: Apple partnered with Porsche to bring the Apple music streaming service to automaker’s battery-electric Taycan. The owners of Taycan would have access to Apple music through the car’s internet connection.

Jul-2019: Tencent extended its partnership with NBA for all streaming, licensed promotion, and merchandising of NBA games and coverage in the Middle Kingdom.

Jul-2019: Tencent in collaboration with Baidu started offering new premium VOD services in Vietnam. The users have the access to directly pay in the app to use WeTV for as little as VND 25,000 (USD 1.08) a month or iQIYI for 49,000 VND (USD 2.13) a month. WeTV has been owned by Tencent and iQIYI, by Baidu.

May-2019: Amazon announced a partnership with ClearTrip, a flight booking platform in India. The partnership was aimed at providing its customers with access to book their flight tickets directly from their own app.

May-2019: Microsoft teamed up with Sony to develop future cloud solutions for content streaming services and game services.

Acquisition and Mergers:

Dec-2019: Facebook acquired PlayGiga, a Spanish video gaming company. The acquisition helped Facebook in building its online gaming business with new missions.

Dec-2019: Google announced the acquisition of Typhoon, an independent game developer. After the acquisition, Typhoon began operating under the Stadia Games and Entertainment business of Google. The acquisition emerged as a new step for Google for the expansion in the gaming industry.

JuN-2019: Microsoft announced the acquisition of Double Fine, a video game developer company. The acquisition bolstered the position of the former company in the gaming industry by bringing its breakthrough technology to Microsoft’s technology.

Sep-218: Apple completed the acquisition of Shazam, a popular music discovery app. After the acquisition, Apple made this app ad-free so that the users could enjoy the best of Shazam without interruption.

May-2018: Texture, the digital magazine subscription service by Next Issue Media LLC has been acquired by Apple. This gave users unlimited access to their favorite titles for a one-month subscription fee.

Product Launches and Product Expansions:

Nov-2019: Amazon introduced an ad-supported free version of its music streaming service Amazon Music. It would be part of its prime bundle.

Jun-2019: Netflix released new video games based on its shows, to make the efforts to turn its streaming platform into a multimedia empire. Its new games were Stranger Things 3, a title based on teen series, The Dark Crystal: Age of Resistance, a prequel series to the 1980s Jim Henson film, etc.

Mar-2019: Google unveiled Stadia, a new online gaming platform. Through this launch, the company was aimed at entering the internet-based services segment. It is a cloud-based platform that the customers can use through simply clicking on the ’Play Now’ button.

Mar-2019: Apple announced the launch of Apple Arcade, the world’s first game subscription service for desktop, mobile, and the living room. Arcade features brand new, original games from Major Studios, Acclaimed Indie Developers, Ken Wong, Legendary Creators Hironobu Sakaguchi, and Will Wright.

Oct-2018: Facebook launched Portal and Portal +, a pair of artificial-intelligence (AI) powered smart video chat devices. These devices have been designed for connecting people and making them feel virtually nearby. These devices were 10 and 12-inch in size.

Sep-2018: Facebook unveiled an Android app for fb.gg, the one-stop destination of the company for viewers so that they can discover and follow the gaming content. This service has been limited to the Philippines only.

Scope of the Study

Market Segmentation:

By Monetization Model

• Subscription-Based

• Advertising-Based

• Transaction-Based

By Service Vertical

• Media & Entertainment

• Gaming

• Education & Learning

• Others

By Streaming Device

• Smartphones & Tablets

• Desktops & Laptops

• IP TV’s & Consoles

By Type

• Video on Demand

• Online Gaming

• Music Streaming

• Communication

• Others

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Twitter, Inc.

• Microsoft Corporation

• Google, Inc.

• Amazon.com, Inc.

• Apple, Inc.

• Facebook, Inc.

• Netflix, Inc.

• The Walt Disney Company (Hulu LLC)

• Tencent Holdings Ltd.

• Roku, Inc.

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