The number of SVOD subscribers in Latin America is set to more than double between 2017 and 2023, according to Digital TV Research stats.
“By 2023, 28.4% of the region’s TV households will pay for an SVOD package, up from 13.2% by end-2017,” said Simon Murray, principal analyst at Digital TV Research.
Mexico is tipped to become the SVOD leader in 2019 and account for 36% of the region’s overall subscribers by 2023. Brazil, which has a larger population, is expected to account for a further 27%.
By 2023, Puerto Rico and Mexico are tipped to have the highest SVOD penetration in the region with uptake of 53.5% and 51.8% respectively. “These two countries are the only ones in the region where Amazon Prime operates,” says Murray.
Netflix is tipped to remain Latin America’s largest pan-regional SVOD platform “by some distance”, with an expected 23.99 million paying subscribers in 2023 – or half the region’s total.
Combined, Netflix, Amazon Prime Video, Blim, Movistar Play, Claro Video, Crackle and HBO are expected to account for 91% of the region’s paying SVOD subscribers by the end of 2023.
Total over-the-top TV and film revenues are expected to climb from US$2.47 billion in 2017 to US$6.43 billion in 2023, with 83% of the regional total coming from the top five countries. SVOD is expected to remain the region’s largest OTT revenue source, contributing US$4.42 billion by 2023.