What makes this growth more remarkable, said the Latin America OTT TV and Video Forecasts report, was that such growth flies in the face of poor economic situations in most LATAM countries.
In all, the study calculates that the SVOD sector will contribute $9.7 billion of revenues by 2027. In addition, from the $7 billion additional OTT revenues between 2021 and 2027, SVOD will provide $4.5 billion and AVOD $2.0 billion.
Regarding which platforms will define the industry, seven US-based platforms – Netflix, Amazon Prime Video, Disney+, Star+, Paramount+, Apple TV+ and HBO Max – will account for 90% of the region’s 145 million paying SVOD subscriptions by end-2027.
Commenting on the dynamics in the market as revealed by the Latin America OTT TV and Video Forecasts report, Simon Murray, principal analyst at Digital TV Research, said: “Latin America is usually the first stop in international expansion for the US-based SVOD platforms. How platforms adapt in the region acts as a template for further global expansion.” Rapid TV News