The global live streaming pay-per-view market size is expected to reach USD 2.3 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 15.0% from 2020 to 2027. The rising demand for online Transactional Video-on-Demand (TVoD) propels the growth of the market. The TVoD services have notably augmented its viewers owing to the increasing number of webcasting of various sports events globally. For instance, Meerkat and Periscope are live streaming applications that host live professional boxing matches on a pay-per-view basis. The streaming app generates a significant amount of revenue from boxing events and from webcasting of events every year.
In addition, the WWE app is another virtual streaming sports platform that broadcasts live wrestling matches on a pay-per-view basis. Further, in the last few years, the webcasting of eSports has gained maximum traction due to high-speed internet connectivity with technically advanced gaming consoles and computers. As the entertainment industry is growing, the number of concerts occurring each year is also increasing. The digital platforms have made people more aware of various artists and have generated a strong fan base. Thus, every concert hosted by these artists has a strong fan base willing to attend. Thus, to deliver these concerts, companies have shifted to a live streaming pay per click model. This has helped a large number of digital media companies to generate massive revenues by webcasting.
Many digital media companies are increasingly focusing on launching the pay-per-view model to stream their events live. For instance, in May 2020, LiveXLive, a digital media company, announced the launch of pay-per-view live stream events and performances. This will enable a new revenue-sharing model for the digital media company as well as the artists. Such revenue models provide great benefits to companies and artists in terms of reach and fund generation. Such factors are therefore contributing to market growth. Moreover, various industry verticals focus on adopting these streaming technologies to increase the reach of their content. In the educational sector, videos are being increasingly uploaded to create a more interactive method of learning. The corporate industry is using these technologies to deliver training. The media and entertainment industry are streaming various concerts for people to watch live or on-demand.
On the regional aspect, North America is dominating the overall market. This is due to the presence of key players in the region. Asia Pacific is expected to register the highest CAGR in the forecast period. This is due to rising investment by companies in China and India to create more content.
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