Subscriptions to over-the-top TV providers, such as Netflix and Amazon Prime, will generate $31.9 billion by 2019, up from about $8 billion in 2014, according to a new report from Juniper Research.
The report found that traditional broadcasters are facing increased competition as more services go over-the-top, allowing distributors like Sling TV to provide customers with a cheaper, tailored alternative to cable TV, driving the trend for cord cutting.
By 2019, Juniper says 84% of OTT subscriptions will be made via connected TVs. And it says that IPTV revenues are set to more than double between 2014 and 2019.
The research shows that consumers like OTT services because it allows them to see content when and where they want. Juniper also expects more OTT players to follow Netflix and YouTube in launching ultra-high definition services over the next two years, which will help the pickup of 4K TVs, which will become more affordable.