Connected TV

Global Streaming Revenues Will Increase by 14% in 2023

Global Streaming Revenues Will Increase by 14% in 2023

3 Min Read

In the world of streaming, the experts at Wells Fargo have looked into their crystal ball and now forecast that global streaming revenue is gearing up for a 14% total boost in 2023, hitting a staggering $65.7 billion. Unfortunately, they also predict that the streaming revenue growth engine might be hitting the brakes for a while moving forward. Wells Fargo’s financial fortune tellers predict a shift in focus, with pricing becoming the new priority for streaming brands — outshining subscriber numbers and halting the rapid growth of the last year. So while their quarterly figures reveal a 4% uptick in the third quarter, expectations for the first half of 2024 indicate a more measured 2-4% trajectory.

When it comes to the streaming companies pulling in the most in revenue — surprise, surprise: Netflix is still king of the proverbial mountain. Netflix currently commands a formidable 51% share of all direct-to-consumer streaming revenues, amassing a staggering $8.5 billion. Following suit, Disney+ secures the second position with a 13% share, totaling $2.2 billion, while Hulu claims 10% with $1.6 billion. Paramount+ and Peacock occupy the fourth and fifth positions with 7% ($1.1 billion) and 5% ($830 million) shares, respectively. Wells Fargo analysts also anticipate that the Average Revenue Per User per month (ARPU) will experience a modest 0.3% year-over-year increase in 2023, with a more substantial 8.8% rise projected for the entirety of 2024, thanks to recent price hikes. So as the streaming world continues to evolve as companies change their priorities, expect new plot twists to arise due to this shift in focus.

Connected TV in the News

TV Advertising: 6 Key Trends To Watch in 2024

TV advertising has undergone significant transformations in recent years, and 2024 promises to be no different. Advertisers must adapt to remain relevant and effective as technology evolves and consumer preferences shift.

How Connected TV Will Weather the Great Content Drought of 2024
MNTN Research

The entertainment industry strikes of 2023 have concluded, but that doesn’t mean new content will be ready to launch by the start of next year. By focusing on reruns, advertisers will be able to maintain their performance goals as they wait for new content to ramp back up.

Streaming Bundling Sounds Good – But Who Really Benefits?
Initially, streaming bundling makes sense: not having to think about dropping and adding streaming platforms, depending on when your favorite show debuts a new season of episodes. But what will be the cost for consumers?