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The online movie market size is estimated to grow at a CAGR of 20.35% between 2022 and 2027. The market size is forecast to increase by USD 28,676.32 million. The growth of the market depends on several factors such as the rising popularity of online video-streaming services, rising penetration of smartphones, easy access to the internet, and increasing penetration of smart TVs.
The market covers geography analysis including North America, APAC, Europe, South America, and Middle East and Africa. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021. The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Amazon.com Inc., Apple Inc., Bennett Coleman and Co. Ltd., Chicken Soup for The Soul Entertainment Inc., Comcast Corp., Eros Media World plc, Hungama Digital Media Entertainment Pvt. Ltd., Lions Gate Entertainment Corp., Microsoft Corp., Mubi Inc., Netflix Inc., Shemaroo Entertainment Ltd., Sony Group Corp., Sun TV Network Ltd., The Walt Disney Co., Viacom18 Media Pvt. Ltd., Walmart Inc., Warner Bros Discovery Inc., and Zee Entertainment Enterprises Ltd.
Figure 1: Online Movie Market Share
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the online movie market growth is the rising penetration of smartphones and easy access to the internet. There is an increasing preference for OTT platforms to watch movies among users due to the advent of high-end smartphones and the easy availability of the Internet. Additionally, the rising number of smartphone users is enabling easier access to video and music content. Moreover, several digital content providers are offering video content through mobile platforms including movies. Factors such as the rising internet penetration along with with the availability of smartphones at lower costs are positively impacting the market. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the online movie market growth is the increase in better customer experience in the movie industry. There has been an increase in a significant number of viewers due to the substantial development in the media and entertainment industry. The global film industry is producing high and low-budget films with increasing investment from prominent movie producers. Furthermore, the increasing investments in the deployment of network communication infrastructure are fuelling Internet penetration in developing economies such as India, Indonesia, and Malaysia. As a result, it has enabled a huge number of people to gain access to the Internet which has increased the total potential market for the online market. Hence, such factors are expected to drive market growth during the forecast period.
An increase in the number of hacking incidents is one of the key challenges hindering the online movie market growth. There has been an increase in the number of cyberattacks by hackers and cybercriminals at an alarming rate across the globe. Such cyber attacks can lead to disruption and damage to the reputation and goodwill of service providers. Moreover. several digital content providers offer content through OTT platforms which are prone to network attacks. Additionally, some service providers do not have strong cybersecurity solutions, including encryption and two-factor authentication which makes them prone to cyber-attacks. Hence, such factors can hinder the market growth during the forecast period.
This online movie market report extensively covers market segmentation by application (website and app), platform (smartphones, smart TVs, laptops and desktops, and others).
The website segment is estimated to witness significant growth during the forecast period. Websites can be referred to as one-way informational feeds that do not permit viewers to interact or communicate back to the site. Mobile websites are mainly optimized for small-screen viewing experiences including smartphones and tablets, and responsive design websites automatically adjust to the type and size of the browser in which they are being displayed.
Figure 2: Online Movie Market by Application (2017-2027)
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The website segment was the largest segment and was valued at USD 4,549.80 million in 2017. The website segment mainly comprises browser-based Hypertext Markup Language (HTML) pages that are linked together and run over the Internet (for mobile websites, typically 3G or 4G or WiFi networks) and display useful content. The main feature of the website segment is that it is navigatable and offer digital images, content, videos, and audio. Broader accessibility, compatibility, and cost-effectiveness are some of the key advantages of website-based content over apps. Hence, such benefits offered by the website segment for watching movies are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Based on the platform, the segment is classified into smartphones, smart TVs, laptops and desktops, and others. The increasing penetration of smartphones across the world has fuelled the growth of the smartphone segment in the global online movie market. Additionally, there has been an increase in mobile applications that offer online movie streaming services has significantly contributed to the growth of this segment. Furthermore, the presence of major smartphone OEMs, including Huawei Technologies, Lenovo Group, HTC Corp. (HTC), Guangdong OPPO Mobile Telecommunications, SAMSUNG ELECTRONICS, Xiaomi, and ZTE Corp. (ZTE) is fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Figure 3: Online Movie Market by Region
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors which have significantly contributed to the global online movie marketing growth in North America is the presence of several prominent market players and their increasing revenues. Additionally, these key market players are adopting certain strategies for expanding their business which has significantly fuelled the market growth in the region. Furthermore, the early adoption of video streaming services such as Youtube and Netflix is positively impacting the market growth. Due to the severe competition in the region, several existing services are upgrading their services in North America. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of global online movie market witnessed significant growth due to the social distancing and work-from-home policies which have encouraged people to stay at home, resulting in increasing the popularity of online video streaming services in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to an increase in investments by existing players to expand their services by streaming movies in several languages. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alphabet Inc: The company offers online movies through its platform, YouTube.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Online Movie Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.35% |
Market growth 2023-2027 |
USD 28,676.32 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
19.46 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 37% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alphabet Inc., Amazon.com Inc., Apple Inc., Bennett Coleman and Co. Ltd., Chicken Soup for The Soul Entertainment Inc., Comcast Corp., Eros Media World plc, Hungama Digital Media Entertainment Pvt. Ltd., Lions Gate Entertainment Corp., Microsoft Corp., Mubi Inc., Netflix Inc., Shemaroo Entertainment Ltd., Sony Group Corp., Sun TV Network Ltd., The Walt Disney Co., Viacom18 Media Pvt. Ltd., Walmart Inc., Warner Bros Discovery Inc., and Zee Entertainment Enterprises Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Platform
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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