OTT to drive global video spend to US$559 billion by 2022

Traditional video still to be the majority of the marketBOSTON – American researcher Strategy Analytics said Tuesday that the global consumer and advertising spend on TV and video will grow 14%, from US$490 billion in 2017 to US$559 billion in 2022.Spending on over-the-top video will account for 90% of this growth, according to the company’s latest Television & Media Strategies (TMS) report. For a breakdown of spending, see the chart at right (click to enlarge).Consumer spend and digital video ad revenue from OTT video services such as YouTube, Facebook, iTunes, Google Play, Netflix, Amazon Prime Video, Hulu, and others will double...