According to Digital TV Research, revenues from OTT TV episodes and movies for 19 Latin American countries are expected to grow by $4 billion to $6.43 billion in 2023.
This is 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, accounting for 83 percent of the regional total. SVOD will remain the region’s largest OTT revenue source, contributing $4.42 billion by 2023.
Mexico, benefiting from the availability of Amazon Prime, will become the SVOD subscriber leader in 2019, despite having 60 percent of the population that Brazil has. Mexico will account for 36 percent of the region’s SVOD subs by 2023, with Brazil bringing in a further 27 percent.
Netflix, Amazon Prime Video, Blim, Movistar Play, Claro Video, Crackle and HBO will together account for 91 percent of the region’s paying SVOD subscribers by end-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 percent of the region’s TV households will pay for an SVOD package, up from 13.2 percent by end-2017.”
Murray continued: “Puerto Rico (53.5 percent) and Mexico (51.8 percent) will have the highest penetration by 2023. These two countries are the only ones in the region where Amazon Prime operates.”