Amagi's "Global FAST Report" report found that global AVOD ad revenues are expected to hit $56 billion by 2024, while APAC continues to be on top of the list with an ad revenue projection of around $25 bn by 2024.
The subscription video on demand service revenue in Japan is expected to increase at a compound annual growth rate (CAGR) of 10.1% from $4.5 billion in 2022 to $7.3 billion in 2027, according to GlobalData.
Under the newly established role, Cheng will oversee the SVOD business in the United States, where he will be responsible for revenue growth, profit and loss and the overall performance of the service.
Global SVOD subscriptions will increase by 475 million between 2021 and 2027 to reach 1.68 billion, according to Digital TV Research. Netflix will remain the revenue winner, with US$30 billion expected by 2027.