Sub-Saharan Africa OTT video revenues to quintuple to $1.02 billion by 2024

Over the top (OTT) film and television episode revenues will reach US$1.02 billion by 2024, up from US$223 million in 2018, according to the ‘Sub-Saharan Africa OTT TV and Video Forecasts’ report from Digital TV Research. Despite this quintupling of revenues, Africa still has a lot of potential growth in the long term. South Africa will account for 40 percent of the region’s revenues by 2024, with Nigeria bringing in 22 percent.

Of the 35 countries covered by the report, only 15 will generate OTT revenues of more than US$10 million by 2024.

Subscription video on demand (SVoD) is already the main revenue driver for OTT TV and video by some distance. SVoD revenues will reach US$782 million by 2024, nearly quintuple the 2018 total. The report forecasts 10.21 million SVoD subscriptions by 2024, up from 3.03 million at end-2018. South Africa (3.46 million by 2024) will remain the leader, with Nigeria (2.56 million) in 2nd place. South Africa and Nigeria will together account for 59 percent of the region’s SVoD subscribers by 2024, but this is down from 71 percent in 2018.

Source: Telecompaper