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American Focus > Blog > Entertainment > U.S. Streaming Video Market to Surge 33% by 2029 to Over $112B: PwC
Entertainment

U.S. Streaming Video Market to Surge 33% by 2029 to Over $112B: PwC

Last updated: July 24, 2025 1:20 am
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U.S. Streaming Video Market to Surge 33% by 2029 to Over 2B: PwC
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The streaming video industry is experiencing a period of significant growth, with projections from PwC indicating a promising future over the next five years. According to the latest PwC Global Entertainment & Media Outlook report, the total over-the-top (OTT) market in the U.S. is expected to grow at a compound annual rate of 5.9%, reaching $112.7 billion by 2029. This marks a substantial increase from the $84.7 billion revenue generated in 2024, driven by factors such as a growing subscriber base, new service launches, and price hikes.

The U.S. stands out as the largest and most influential streaming video market globally, raking in $61.9 billion in transactional and subscription VOD revenue in 2024. This figure far surpasses the revenue generated by the next-largest market, China, which brought in $10.8 billion in the same year. Despite being a mature market, the U.S. continues to experience double-digit revenue growth, with subscription VOD revenue climbing by 18.3% year-over-year in 2024.

Netflix dominates the subscription video space in the U.S., boasting nearly 90 million subscribers in the U.S./Canada by the end of 2024. The streaming giant leads in global content investment, spending $17 billion in 2024, while competitors like Paramount+ and Disney+ allocated around $5 billion each to content creation. Moving forward, direct-to-consumer streaming platforms will focus on enhancing profitability in the U.S. market through strategies like subscription price increases, bundling, and the adoption of ad-supported video on demand (AVOD) services.

Live sports played a significant role in driving subscriber growth for streaming platforms in 2024, with events like the Super Bowl and the Summer Olympics attracting millions of new viewers. Additionally, the free, ad-supported television (FAST) category is projected to grow faster than OTT overall, with revenue expected to reach $9 billion by 2029.

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Traditional TV is facing challenges as streaming alternatives gain traction, leading to a decline in revenue from linear TV advertising and pay-TV subscriptions. By 2029, only 28.8% of American households are predicted to have pay-TV subscriptions, down from 41.1% in 2024. On the film front, the industry is rebounding from the impact of production slowdowns, with studios prioritizing theatrical releases over day-and-date streaming.

Overall, the streaming video landscape is evolving rapidly, with new opportunities and challenges emerging for industry players. As consumer preferences shift towards digital content consumption, companies will need to adapt and innovate to stay competitive in this dynamic market.

TAGGED:112BmarketPwCStreamingSurgeU.SVIDEO
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