This year will see a milestone in content spending, with new forecasts from Ampere Analysis predicting that global investments by streaming platforms will surpass commercial broadcasters for the first time ever.
Overall, the Ampere projections show a sluggish market for content investments in 2025, with the global content spend increasing by just 0.4% year-over-year to reach $248 billion. This follows 2% growth in content investment in 2024, driven by increased ad spend on the U.S. presidential election, the Paris Summer Olympics and the resolution of the 2023 Hollywood actor’s and writer’s strikes. In 2025, streaming services will overtake commercial broadcasters as the front-runners of global content investment, spending $95 billion on programming, according to Ampere.
The trend reflects an ongoing spending shift, with media companies increasingly focused on streaming and online audiences. Last year’s successful subscriber growth from password-sharing restrictions and key sporting events has positioned streamers to invest heavily in content this year, the report said.
Ampere’s predicted $95 billion spend by ad-funded and subscription-based services equates to 39% of total global content investment. However, the platforms are expected to ensure investment grows at a slower pace than revenue to maintain attractive profit margins, the researchers noted.
Meanwhile, commercial broadcasters are tightening their belts. U.S. commercial broadcasters are pulling back spending after a year of increased investment fuelled by the presidential campaign and the Summer Olympics. Beyond these one-off events, the decline in content spend reflects a broader trend seen over the past five years as broadcasters face ongoing advertising revenue challenges linked to linear viewing declines. Outside the U.S., commercial broadcasters continue to demonstrate resilience, maintaining their content investment throughout 2025.
“Spend in 2024 was in line with Ampere’s expectations,” Ampere Analysis Research Manager Peter Ingram said. “The recovery aided by the U.S. election, the Summer Olympics and the end of the Hollywood strikes met the limitations of macroeconomic challenges and ongoing focus on profitability from major streamers.
“In 2025, expenditure by VoD services will increase by 6%, making these companies the leading contributors to the content landscape, surpassing commercial broadcasters for the first time,” Ingram continued. “The continued growth of VoD spend, combined with the more cautious outlook of linear broadcasters, highlights the shifting role of traditional television as viewer demand turns to digital platforms and streaming.”
