PwC has released its Global Entertainment & Media Outlook 2023-2027, and among its projections is a 25% CAGR growth of OTT/streaming video advertising revenue, which PwC forecasts will reach $33.4 billion by 2027.
In other PwC forecasts reported by MediaPost, the total OTT revenue in the United States will rise from $57.1 billion this year to $75.5 billion in 2027.
“As e-commerce and time spent on digital platforms grow, companies around the world will be spending significantly more in an effort to reach consumers at the point of purchase and at the point of decision,” PwC’s perspective report says.
PwC forecasts advertising to surpass consumer spending in 2025, with global advertising rising to $952.6 billion (at a 4.5% CAGR) in 2027. “This trajectory puts advertising on a path toward becoming the first of the three major [entertainment and media] categories to reach US$1 trillion in annual revenue,” the perspective says.