Western Europe’s OTT revenue to rise to $48bn by 2029

Western European OTT TV and film revenue will rise by 55% in the next six years from the end of 2023, predicts Digital TV Research.

Source: Digital TV Research

The market research firm revealed in its latest report it expects OTT revenue in Western Europe to climb to $48 billion by 2029. This will be up from $31 billion in 2023, earning an additional $17 billion across those six years.

According to Digital TV Research’s findings, the UK will contribute $10 billion in 2029, with $9 billion from Germany, $5 billion from Italy and $7 billion from France.

Streaming giant Netflix will overall contribute $10.7 billion by 2029 and Disney $4.9 billion. Other AVOD and SVOD services will deliver a combined total of $21.4 billion by 2029, excluding Paramount+, Max, Amazon and Apple TV+.

The company also recently reported pay TV subscribers in Western Europe will fall to 93 million by 2029. It forecasted pay TV customers will be down by 8%, with the region losing nearly 9 million subs between 2023 and 2029. However pay TV will decline at a slower rate in Western Europe compared to the US, as pay TV penetration will still be 53% by 2029 – down from 58% in 2023.

Simon Murray, principal analyst at Digital TV Research, said: “We expect that Netflix, Disney+, Max and Paramount+ together will generate AVOD revenues of $2.4 billion by 2029 – with a further $16.2 billion from SVOD.”