Report: Latin American OTT revenues to hit $6.4bn by 2023
Over-the-top media revenues in 19 Latin American countries will more than double from $2.47 billion in 2017 to $6.43 billion in 2023, according to a new report from Digital TV Research.
The report, Latin America OTT TV & Video Forecasts, also forecasts that the top five countries will generate $5.32 billion in revenues by 2023 (83 per cent of the total), while subscription video-on-demand will remain the region’s largest OTT revenue source, contributing $4.42 billion by 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 per cent of the region’s TV households will pay for an SVOD package, up from 13.2 per cent by end-2017.
“Puerto Rico (53.5 per cent) and Mexico (51.8 per cent) will have the highest penetration by 2023. These two countries are the only ones in the region where Amazon Prime operates.”