Julia Stoll
Research expert covering TV and video media
Television industry worldwide - statistics & facts
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Since the technology’s initial debut in the 1940s and 50s, television has matured from a luxury device to a standard feature within households around the world. Global traditional TV and home video market revenue amounted to around 384 billion U.S. dollars in 2023. Even with massive changes in the technological landscape and a drop in revenue that year, TV seems set to remain an important feature of everyday life in some form or another. While the pay TV industry has recently experienced a downturn, new TV technologies are quickly taking its place.
As highlighted above, the industry is changing rapidly. Over the past two decades multiple technologies have entered the market and have been subsequently replaced by newer ones. Analog terrestrial TV dominated the market in the past but was soon replaced with digital cable TV, IPTV, as well as free-to-air terrestrial television in recent years. But broadcasting technologies are not the only thing that is evolving within the industry. Along with these new broadcasting technologies come advances in television hardware. In the United States, for instance, over three quarters of the population own a smart TV, which combine with these new services to take advantage of internet connectivity.
Although volatile, the television industry has proven time and time again to be able to adapt to both new technology and the changing demands of its consumers. Unlike many other technologies, television is a truly worldwide phenomenon, and has found its place in the lives of people from all walks of life and every corner of the globe.
Digital technologies changes TV consumption
The pay TV market is anticipated to decrease in the future, whereas video-on-demand is continuously growing in popularity. Projections indicate that there will be 1.79 billion subscription video-on-demand subscribers worldwide by 2029. Although the methods and specific services through which people access television continue to change, the industry always seems to adapt, as evidenced by the fact that the number of traditional TV and home video viewers amounted to 5.23 billion in 2023.As highlighted above, the industry is changing rapidly. Over the past two decades multiple technologies have entered the market and have been subsequently replaced by newer ones. Analog terrestrial TV dominated the market in the past but was soon replaced with digital cable TV, IPTV, as well as free-to-air terrestrial television in recent years. But broadcasting technologies are not the only thing that is evolving within the industry. Along with these new broadcasting technologies come advances in television hardware. In the United States, for instance, over three quarters of the population own a smart TV, which combine with these new services to take advantage of internet connectivity.
A profitable market
Also, the advertising market is characterized by online media. Worldwide, television hold the second highest market share among advertising media after the internet. However, the industry remains extremely lucrative to investors and hugely beneficial for advertisers. After a drop in ad spending in 2020, presumably due to the coronavirus crisis, revenues are predicted stagnate in the years to come.Although volatile, the television industry has proven time and time again to be able to adapt to both new technology and the changing demands of its consumers. Unlike many other technologies, television is a truly worldwide phenomenon, and has found its place in the lives of people from all walks of life and every corner of the globe.
Julia Stoll
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Jul 3, 2024
Julia Stoll
Research expert covering TV and video media
