PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392022
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1392022
Global AVOD Services Market size is estimated to be valued at US$ 28.09 Billion in 2023, and is expected to reach US$ 71.16 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.2% from 2023 to 2030.
Report Coverage | Report Details | ||
---|---|---|---|
Base Year: | 2022 | Market Size in 2023: | US$ 28.09 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 14.20% | 2030 Value Projection: | US$ 71.16 Bn |
Ad-supported video-on-demand (AVOD) services are online platforms that provide a wide range of professionally produced content to viewers. Examples of these platforms include Netflix and Hulu. Unlike subscription-based video-on-demand (SVOD) services, where users pay a regular fee to access content without ads, AVOD services are free for users. Instead, they rely on advertising to generate revenue, making them accessible to a broader audience.
One of the key advantages of AVOD is its lower barrier to entry. It's an excellent option for viewers who don't want to pay for subscriptions, and it allows content creators to reach a vast audience without requiring viewers to open their wallets. However, the reliance on ad revenue can be somewhat unpredictable for creators, as it can fluctuate depending on factors like viewership and ad demand.
In recent years, AVOD has gained popularity among sports teams and leagues. They leverage these platforms to produce and distribute behind-the-scenes content, exclusive interviews, and live event streaming. This not only offers fans a more immersive experience but also presents an opportunity to generate additional revenue through targeted advertisements during sports events, further monetizing their content. As AVOD platforms continue to grow, they provide a valuable avenue for sports organizations to engage with their fan base and boost their financial resources.
Increasing digital video consumption, shift in advertising spending, and content monetization for creators are anticipated to drive growth of the global AVOD services market over the forecast period. Moreover, competitive landscape and original content is also expected to boost the growth of the global AVOD services market over the forecast period. Global reach and localization, mobile and smart TV integration, partnerships and content agreements, ad tech advancements are expected to create growth opportunities for the global AVOD services market during the forecast period.
However, Ad Fatigue and Viewer Disruption, Ad Blocking and Ad Avoidance, privacy concerns and regulation are expected to hamper growth of the global AVOD services market over the forecast period.