The global OTT video business has grown substantially due to the COVID-19 pandemic and factors sustaining the OTT phenomenon. Key growth statistics show subscription OTT video time spent increasing from 2018 to 2022. 45 million new subscribers will be added in 2020 in Western Europe alone. OTT market revenue is projected to reach $438.5 billion by 2026, up from $110.1 billion in 2018. Various catalysts like increasing broadband penetration, growing demand for exclusive content, innovative pricing models, and advances in streaming technology have fueled OTT video growth. Technology innovations in areas like video compression, multi-CDN strategies, and hyper-personalization are also helping sustain the OTT phenomenon.