OTTs vs. Pay TV
The same report records consumers’ shift from regular Pay TV to OTT platforms in recent years. And with Pay-TV subscribers spending less (reduced 8% last year) gradually, we may see the closure of that chapter soon. Also, analysts reported this surpassing breakthrough would occur for the first time in 2024. Consumers’ spending on Pay TV is expected to reduce to $74.5 billion in 2024, whereas the spending on OTTs will be increased to $76.3 billion. Also, another survey reports that over 82% of Americans have paid subscriptions to various OTT platforms, with an average of 4 subscriptions. At the same time, the Pay-TV subscribers constitute just 67%. Thus, the shift is imminent.
