• by Wayne Friedman , May 20, 2016

Global pay TV revenues -- which include subscription fees, pay-per-view movies and TV episodes -- will see slower growth in the next five years, with declining revenue for North America.

Pay TV revenues will fall in 27 countries between 2015 and 2021, according to a Digital TV Revenue Forecasts report, which surveyed 138 countries. Growth for the next five years will slow to low-double digit gains, following 19.5% growth between 2010 and 2015.

North America will see lower pay TV revenues, landing at $98 billion -- dipping to a 47.6% share of the global pay TV market. North American pay TV revenues will fall by $13.5 billion between 2015 and 2021. Its share of global pay TV business has been falling from 57.4% in 2010 to 54.2% in 2015.

The North America market will see declines due to cord-cutting as well as conversion to smaller over-the-top TV services, pulling in lower revenues than traditional monthly pay TV services, according to the research company.

Excluding North America, pay TV revenues will climb 14% ($13.6 billion) between 2015 and 2021 to $107.82 billion -- against a 28% gain between 2010 and 2015 (up $20 billion).

Asia-Pacific territory revenues will grow 25% ($8 billion) between 2015 and 2021 to $40 billion. Asia-Pacific overtook Western Europe in 2014. Estimates are in the next five years Western Europe will see flat revenues at $31 billion.