Revenues from OTT TV episodes and movies for 19 Latin American countries will grow by $4 billion to $6.43 billion in 2023; up from the $2.47 billion recorded in 2017.
According to the Latin America OTT TV & Video Forecasts report, the top five countries will generate $5.32 billion in revenues by 2023 – or 83% of the regional total. SVOD will remain the region’s largest OTT revenue source; contributing $4.42 billion by 2023.
Simon Murray, Principal Analyst at Digital TV Research, said: “We forecast 48.24 million SVOD subscribers by 2023; more than double from the 21.14 million recorded at end-2017. By 2023, 28.4% of the region’s TV households will pay for an SVOD package, up from 13.2% by end-2017.”
Murray continued: “Puerto Rico (53.5%) and Mexico (51.8%) 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% of the population of Brazil. Mexico will account for 36% of the region’s SVOD subs by 2023, with Brazil bringing in a further 27%.
Netflix, Amazon Prime Video, Blim, Movistar Play, Claro Video, Crackle and HBO will together account for 91% 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).