LATAM SVOD subs to break 50MN barrier
The region’s pay-TV industry may be struggling but over the next five years the Latin American region is set to add 24 million subscription video-on-demand customers to total 51.1 million by 2014 says a study from Digital TV Research.
According to the Latin America OTT TV and Video Forecasts report, this would mean that the number of subs would be almost double the 27.12 million recorded at the end of 2018. Netflix is set to remain the largest pan-regional SVOD platform by some distance, with an expected 26.30 million paying subscribers by 2024, half the region’s total and down from a two-thirds share in 2018. The top six regional platforms will account for 85% of the region’s paying SVOD subscribers by this time.
The Latin America OTT TV and Video Forecasts report added that OTT TV episode and film revenues for 19 Latin American countries will more than double to $8.25 billion in 2024; up from the $3.33 billion recorded in 2018. SVOD will remain the region’s largest OTT revenue source, contributing $6 billion by 2024..