OTT revenues will hit $120 billion by 2020 according to new figures from Juniper Research.
The analysts suggest over a quarter of global households will subscribe to SVoD services by 2022.
Juniper Research's Lauren Foye said: “Success will hinge on whether these providers can continue to produce hits such as Stranger Things. As consumers become more fluid in their uptake and loyalty to video services, OTTs could just as easily see users switch off.”
They also predict OTT services will enter the sports rights market, but that viewers will then struggle over whether to continue to pay for multiple subscriptions.
The delivery of media via IP will have a benefit to broadcasters in driving consumers to their own OTT services, suggests Juniper. The company forecasts data usage to soar on these devices, approaching 800,000 Petabytes per annum by 2022.