The number of SVOD subscriptions in Mexico is expected to grow 11% from 9.4 million in 2018 to 14 million in 2022, with Netflix currently dominating the market, according to Futuresource Consulting.
The research firm said that Netflix accounted for 63% of subscriptions in the country last year (roughly 5.9 million), while the other two major SVOD services, Claro Video and Blim, had an estimated 2.2 million and 0.9 million subscribers respectively.
“There are significant new entrants already active or potentially ready to enter throughout 2019 and 2020, which will drive the market,” said Futuresource market analyst, Tristan Veale.
“For example, Disney+, Apple, Hulu, Starz and Walmart may make an entrance, and all have strong financial backing and an incentive to break into this market, which has been highly successful for Netflix.”
Overall, Futuresource said that home video spend in Mexico grew 20% in 2018 to 10.3 billion pesos (€471 million) across SVOD, TVOD, DVD and Blu-ray.
SVOD accounted for 77% of this spend and posted annual growth of 26% to 7.9 billion pesos. Transactional video-on-demand movie spend grew 28% last year to 551 million pesos.