Over-the-top (OTT) television providers such as Netflix and Amazon Prime will quadruple in revenue over the next few years rising from $8 billion in 2014 to $31.6 billion in 2019.
This is according to data compiled by market analyst firm Juniper Research.
Key drivers to adoption, according to Juniper, include 4K TVs, continued growth in Europe and North America, as well as the emergence of competitors in Asia and Asia Pacific.
“Whilst key players such as Netflix and YouTube have launched 4K (ultra-high definition) services, the adoption of 4K content has been slow thus far,” the organization said. “Juniper is predicting this to change over the next 2 years.”
Currently, Ultra HD content is available to a limited number of 4K TVs and Blu-Ray players. In Canada, customers can access the content through the premium plan at $11.99 per month.
According to Juniper, the vast majority of OTT subscriptions in 2019 will be over smart TVs.