OTT TV and video revenues for 17 countries in the Asia-Pacific region are expected to reach $18.4 billion in 2021 from $5.7 billion in 2015, according to Research and Markets.
The forecast estimates that China will overtake Japan in 2016 to become market leader.
Simon Murray, principal analyst at Research and Markets, said smartphone users will continue to drive OTT TV & video audiences.
Murray said smartphones are a more important OTT TV reception method than fixed broadband in the Asia-Pacific region, with the notable exceptions of Australia and New Zealand.
Advertising on OTT sites will remain the main revenue source, bringing in $8.7 billion by 2021 — up by $6 billion from $2.6 billion on 2015.
China will supply $4.9 billion of the 2021 total, with Japan providing a further $1.5 billion.
SVOD revenues will rise from $1.8 billion in 2015 to $6.4 billion in 2021. China will add $1.8 billion in revenues between 2015 and 2021, nearly growing its total sixfold.
Download-to-own/electronic sell-through movie and TV revenues are forecast to be $1.9 billion in 2021 (with $692 million from Japan), up from $691 million in 2015. OTT TV and video rental will climb to $1.3 billion in 2021.