Media Streaming Global Market Report 2024

The media streaming market size has grown strongly in recent years. It will grow from $124.08 billion in 2023 to $135.03 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The expansion observed in the historical period can be attributed to several factors, including the increasing demand for subscription services, the availability of original and region-specific content, the popularity of live sports streaming, a surge in viewership driven by lockdowns, and a growing preference for online streaming services.

The media streaming market size is expected to see strong growth in the next few years. It will grow to $186.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth in the forecast period is expected to be driven by factors such as the rising penetration of the internet and high-speed access, improvements in customer experience and personalization, evolving strategies by vendors, and the adoption of various advertising and revenue models. Key trends in the forecast period encompass continued global expansion, advancements in streaming technology, the integration of blockchain and decentralized technologies, personalization through AI and machine learning, and the evolution of multi-platform viewing experiences.

The anticipated surge in the media streaming market is driven by the increasing adoption of subscription video-on-demand (SVoD) services. SVoD services encompass digital streaming platforms that offer users access to an extensive library of video content through recurring subscription fees. The growing popularity of SVoD platforms is attributed to the convenience and flexibility they provide, allowing consumers to access a vast content library anytime, anywhere. A survey conducted in 2023 by the Brazil-based government agency Instituto Brasileiro de Geografia e Estatística (IBGE) revealed that 43.4% of households with TVs had subscribed to SVoD services, equivalent to 31.1 million homes. This marked a notable 27.8% increase compared to 2021, reflecting a significant upward trend in SVoD adoption and, consequently, driving the growth of the media streaming market.

Key players in the media streaming market are strategically investing in innovative technologies to enhance profitability. Notably, the development of Communication Studio, a video streaming solution, aims to provide a branded and seamless experience for engaging stakeholders both internally and externally. This technology focuses on creating a consumer-centric streaming experience for various internal communications needs, such as onboarding, company-wide updates, and training. In 2023, Brightcove, a US-based public company, introduced Brightcove Communications Studio, designed to elevate internal communications capabilities. Tailored for HR and communications professionals, the platform offers features such as video carousels, organized collections, and analytics capabilities, enabling companies to communicate more effectively with their employees.

In April 2022, AT&T's WarnerMedia, a prominent US-based mass media and entertainment company, successfully acquired Discovery Inc. for $43 billion. This strategic acquisition aimed to merge the two entities, forming Warner Bros. Discovery Inc., a premier standalone global media and entertainment company. The consolidation strengthened WarnerMedia's position in the media and streaming landscape, allowing AT&T to focus on its growth areas in 5G and fiber, fortify its balance sheet, and reduce debt. Discovery Inc., the acquired entity, is a US-based provider of subscription video on-demand over-the-top streaming services.

Major companies operating in the media streaming market report are Amazon.com Inc., Apple Inc., Microsoft Corporation, American Telephone and Telegraph Company, The Walt Disney Company, Tencent Holdings Limited, Netflix Inc., ViacomCBS Inc., NBCUniversal, Baidu Inc., Discovery Inc., Spotify Technology S.A., Hulu LLC, British Broadcasting Corporation, British Broadcasting Corporation, Roku Inc., Pandora Media Inc., Zee Entertainment Enterprises, Deezer SA, iFlix Sdn Bhd, Redbox Automated Retail LLC, CuriosityStream, Cinedigm Corporation, Kanopy, Ellation Inc.

North America was the largest region in the media streaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the media streaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the media streaming market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Media streaming involves the seamless delivery of audio, video, or multimedia content over the Internet in real-time. Unlike traditional downloading methods where an entire file must be retrieved before playback begins, streaming enables users to access and consume content almost instantly by delivering it in a continuous and ongoing stream of data.

The primary content types of media streaming revolve around music streaming and video streaming. In music streaming, individuals have the ability to listen to music online without the need for downloading. This service generates revenue through advertising and subscription models and is accessible on various devices, including smartphones, tablets, laptops, desktops, smart TVs, and gaming consoles. Music streaming is widely utilized in both commercial and residential settings.

The media streaming market research report is one of a series of new reports that provides media streaming market statistics, including media streaming industry global market size, regional shares, competitors with media streaming market share, detailed media streaming market segments, market trends, and opportunities, and any further data you may need to thrive in the media streaming industry. This media streaming market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The media streaming market includes revenues earned by entities by providing services such as video-on-demand (VOD) services, music streaming services, live TV streaming services, educational streaming services, fitness streaming services, news streaming platforms, and art and culture streaming platforms. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.


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