Global Television Services Market to Grow at a CAGR of 5.9% in the Forecast Period of 2024-2032, Aided by the Increasing Users for OTT Across the Globe

OTT is emerging as a promising business model surpassing the traditional structure. Websites like Netflix, Amazon Prime, and YouTube are responsible for the declining demand for the cable industry. OTT gives the à la carte benefit; one can choose according to their need, they are no longer required to purchase a bundle of channels, they can choose each channel according to their preference. Thus, OTT is becoming a cheaper option as compared to cable. However, regular subscribers of cable channels still find it worthy to use cable TV subscriptions regularly and simply enjoy channel flipping. With the rising population of internet users and mobile devices getting better by leaps and bounds, leading to more traffic, the possibility of growth in the industry is endless. Due to the technological advancements, many media outlets deliver accurate, local, and up-to-the-minute updates and broadcasters, pumping out more content in both volume and variety. As a result, the demand for television services is fueling. The COVID-19 pandemic has significantly propelled the growth of the television services industry in the historical period, especially since the onset of the pandemic. As a result, the number of viewers has significantly increased. Lockdowns have given people the luxury of leisure time, resulting in more subscriptions. Revenue from advertisements is also increasing as corporate houses spend more on advertisements, especially those in the FMCG industry.

The rising competition among the key players also provides an impetus to market growth. For example, in August 2021, Viacom CBS Inc. (NASDAQ: VIAC) partnered with Comcast Corporation to launch a new subscription video on demand (SVOD) service across the European regions SkyShowtime will bring together decades of direct-to-consumer experience. It would include the best entertainment, movies, and original content from different channels, including all genres.

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Market Analysis by Delivery Platform, Revenue Model, Broadcaster Type, and Regions:

• Based on delivery platforms, the industry can be divided into digital terrestrial broadcast, satellite broadcast, cable television broadcasting, Internet Protocol Television (IPTV), and Over-the-Top Television (OTT).
• On the basis of revenue models, the market can be divided into subscription and advertisement.
• The market can be broadly categorised based on its broadcaster type into public and commercial.
• The regional markets for television services include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Technological advancements are driving the growth of the television services market.
• Increasing users for over-the-top (OTT) platforms has also boosted the demand for television services.
• Broadcasters, pumping out more content in both volume and variety, also propels market growth.
• Lucrative offers provided by the OTT platforms and the increasing trend of releasing new content on these platforms are also aiding its market growth.

Key Offerings of the report: 

• The EMR report gives an overview of the global television services market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecasted (2024-2032) markets for the delivery platform, revenue model, broadcaster type, and regions of television services.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global television services industry are Canal+ Group, Time Warner, Inc., Viacom CBS Inc., Channel Four Television Corporation, Centurylink, Inc., and 21st Century Fox, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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