Russia’s OTT market will be worth around R20 billion (€288 million) in 2020, according to the findings of a study undertaken by the Russian Association of Electronic Communications (RAEK) and OTT service Okko.
The findings of the study, published by ComNews, say that preliminary results show the market will be worth R13.64 billion this year, or R2 billion more than in 2016.
Key takeaways from analysts commenting on the study, again published by ComNews, include OTT ad revenues growing by 24% this year, with subscription revenues growing even faster; the average that users are willing to pay per unit of OTT content being between R50-100; and Russia’s share of the global market being only 0.5%, indicating potential for enormous growth.
The study also found that the audience for legal OTT content in Russia amounted to 39.6 million people this year, up from 21.7 million in 2013.
Meanwhile, other studies show that 4.5 million people who watch long and medium length video each day – equivalent to 80% of the total – do so on pirate sites.
On the other hand, 71% of viewers are willing to pay for legal content and 38% already do so.