Revenues from OTT TV episodes and movies for 19 Latin American countries will grow by $4 billion (€3.45bn) to $6.43 billion in 2023; up from the $2.47 billion recorded in 2017, according to analyst firm Digital TV Research.
The firm’s Latin America OTT TV & Video Forecasts report suggests that the top five countries will generate $5.32 billion in revenues by 2023 – or 83 per cent of the regional total. SVoD will remain the region’s largest OTT revenue source; contributing $4.42 billion by 2023.
“We forecast 48.24 million SVoD subscribers by 2023; more than double from the 21.14 million recorded at end-2017,” advised Simon Murray, Principal Analyst at Digital TV Research. By 2023, 28.4 per cent of the region’s TV households will pay for an SVoD package, up from 13.2 per cent by end-2017.”
“Puerto Rico (53.5 per cent) and Mexico (51.8 per cent) will have the highest penetration by 2023. These two countries are the only ones in the region where Amazon Prime operates.”
Benefiting from the availability of Amazon Prime, Mexico will become the SVoD subscriber leader in 2019 despite having 60 per cent of the population of Brazil. Mexico will account for 36 per cent of the region’s SVoD subs by 2023, with Brazil bringing in a further 27 per cent.
Netflix, Amazon Prime Video, Blim, Movistar Play, Claro Video, Crackle and HBO will together account for 91 per cent of the region’s paying SVoD subscribers by end-2023. Netflix will remain the largest pan-regional SVoD platform by some distance, with an expected 23.99 million paying subscribers in 2023 – or half the region’s total (down from a two-thirds share in 2017).