The US Video on Demand (VoD) Market size is expected to reach $70.9 Billion by 2030, rising at a market growth of 11.4% CAGR during the forecast period.
The video on demand (VoD) market in the United States has witnessed remarkable growth in recent years. This surge in demand for on-demand video content has transformed the media and entertainment industry in the U.S., offering American viewers unprecedented convenience and flexibility in accessing their favorite movies, TV shows, and other digital media. According to the International Trade Administration, the United States leads the global media and entertainment (M&E) industry, commanding a $660 billion share out of the $2 trillion industry. This dominance extends to the burgeoning video on demand (VoD) market in the U.S.
One of the key drivers of video on demand (VoD) market in the United States is the shift in consumer preferences toward on-demand viewing. Traditional television viewing, characterized by scheduled programming and limited content choices, has gradually given way to on-demand platforms that offer greater flexibility and variety. This change in viewing habits has been fueled by the proliferation of smartphones, tablets, and smart TVs, which provide Americans with multiple devices to access VoD services.
Moreover, subscription-based streaming services have revolutionized how Americans consume content. Companies like Netflix, Amazon Prime Video, Hulu, and Disney+ have amassed millions of subscribers by offering extensive libraries of movies, TV shows, and original programming at affordable monthly rates. These platforms have capitalized on the binge-watching trend, enabling viewers to binge-watch entire seasons of their favorite shows without waiting for scheduled broadcasts.
The COVID-19 pandemic has further accelerated the growth of the United States's video on demand (VoD) market. With lockdowns and social distancing measures in place, Americans turned to streaming services to alleviate boredom and stay entertained while confined to their homes. The closure of movie theaters and the postponement of major film releases prompted studios to explore direct-to-consumer distribution models, releasing new movies on streaming platforms. This shift in consumer behavior has led to a surge in subscriber numbers for VoD platforms, as well as increased engagement and consumption of digital content.
In the United States, the video on demand (VoD) consumption has been dramatically transformed by the rising adoption of internet streaming devices. These devices, ranging from smart TVs to streaming sticks and boxes, have revolutionized how Americans access and consume digital content, reshaping the traditional television industry. One of the primary drivers behind the increasing popularity of internet streaming devices is the convenience they offer. With a simple internet connection, Americans access vast content from various streaming platforms, including Netflix, Hulu, Amazon Prime Video, Disney+, and many others.
According to the U.S. Energy Information Administration, in 2020, the adoption of Internet streaming devices with TVs in U.S. households surged to 56%, marking a significant rise from the 29% recorded in 2015. Moreover, the utilization of both streaming devices and set-top boxes concurrently increased to 27% in 2020, compared to 21% in 2015. This underscores the growing prominence of internet streaming devices in the video on demand (VoD) within the U.S.
Another key factor contributing to the popularity of internet streaming devices is the proliferation of exclusive and original content available on streaming platforms. With the rise of streaming giants like Netflix and Amazon investing heavily in producing original programming, Americans are increasingly drawn to these platforms for their unique and diverse content offerings. From award-winning TV series to blockbuster movies and documentaries, streaming services have become synonymous with quality entertainment.
Furthermore, the advancements in streaming technology have significantly enhanced the quality of content delivery. High-definition and even 4K Ultra HD streaming capabilities are now standard features in many Internet streaming devices, providing viewers with a more immersive and cinematic experience from their homes. Thus, the convenience of internet streaming devices, exclusive content, and technological advancements have revolutionized how Americans consume digital content.
The popularity of web series in the United States' video on demand (VoD) market has experienced a significant surge in recent years, reshaping the landscape of entertainment consumption. One driving force behind the rise of web series is the increasing demand for personalized, on-the-go entertainment. With the proliferation of smartphones, tablets, and high-speed internet connections, Americans now have unparalleled access to vast content anytime, anywhere. Web series, typically consisting of short, episodic content, cater to this trend by offering bite-sized entertainment that can be easily consumed during commutes, lunch breaks, or leisure time.
Furthermore, the democratization of content creation facilitated by digital platforms has empowered aspiring filmmakers and storytellers to produce high-quality series with relatively low budgets. This has led to a proliferation of diverse and innovative content, ranging from comedy and drama to science fiction and horror, catering to niche audiences that traditional television networks underserve.
The success of web series is also attributed to the rise of streaming platforms such as Netflix, Amazon Prime Video, and Hulu, which have invested heavily in original programming to differentiate themselves in a crowded industry. Therefore, the popularity of web series is driven by the demand for personalized content facilitated by digital platforms and streaming services, reshaping the landscape of entertainment consumption in the United States.
The video on demand (VoD) market in the United States is a highly competitive and rapidly evolving sector within the entertainment industry, driven by technological advancements, changing consumer preferences, and the increasing popularity of streaming services. One of the dominant players in the U.S. video on demand (VoD) market is Netflix Inc., a pioneer in subscription-based streaming services. Netflix revolutionized how people consume entertainment by offering a vast library of movies, TV shows, and original content accessible online. With millions of subscribers nationwide, Netflix continues to invest heavily in original programming, striking exclusive content deals, and expanding its global reach to maintain its position as a leading VoD provider in the U.S.
Another major player in the U.S. video on demand (VoD) market is Amazon.com Inc., through its Prime Video streaming service. Prime Video offers a diverse selection of movies, TV series, and original content to Amazon Prime subscribers, enhancing the value proposition of the company's membership program. With a focus on convenience, affordability, and integration with other Amazon services, Prime Video has emerged as a formidable competitor to Netflix and other U.S. VoD platforms, leveraging the e-commerce giant's vast resources and customer base.
Disney Streaming Services LLC, a subsidiary of The Walt Disney Company, has also made significant strides in the U.S. video on demand (VoD) market with the launch of Disney+. Disney+ offers a treasure trove of beloved content from Disney, Pixar, Marvel, Star Wars, and National Geographic, attracting subscribers of all ages with its family-friendly programming and exclusive releases. With a strong emphasis on franchises, nostalgia, and brand recognition, Disney+ has quickly become a major player in the U.S. video on demand (VoD) market, competing directly with established streaming services like Netflix and Amazon Prime Video.
In addition to these major players, several other companies contribute to the diversity and competitiveness of the U.S. video on demand (VoD) market. Streaming services such as Apple TV+, HBO Max, Paramount+, and YouTube Premium offer unique content libraries, features, and subscription models to attract and retain subscribers. Furthermore, traditional media companies and network broadcasters have launched their streaming platforms, bolstering the availability of on-demand content and intensifying competition in the video on demand (VoD) market. With the proliferation of streaming options, Americans have more choices, driving companies to invest in original programming, user experience enhancements, and international expansion.
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