NEW YORK, May 12, 2016 /PRNewswire/ -- Hot Topic: Over-the-top Video Services Market in Latin America :
The Market Is Expected to Have over 30 Million Subscribers by 2021 and Is Changing the Way People Look for Entertainment
Over-the-top (OTT) video services is considered a complementary entertainment option and is already widespread in Latin America; however, this industry still has growth opportunities, driven by the desire for a cheap service that is available anytime, anywhere, and on any device such as notebooks, tablets, smartphones, smart TVs, and gaming consoles. With this, OTT video services are becoming a significant threat to traditional Pay TV services. This hot topic covers the main trends driving and restraining this growing industry, with a focus on the main Latin American countries of Argentina, Brazil, Chile, Colombia, and Mexico.
Over-the-top (OTT) video services is considered a complementary entertainment option and is already widespread in Latin America; however, this industry still has growth opportunities.
- TV operators reported a loss of over million subscribers in 2015, which leads to restraints against OTT video services. These operators already account for million subscribers in the region. -
Most consumers, however, are not cancelling their TV operators' plans because of OTT services. Consumers are downgrading their existing plans once they see OTT video is a complementary service.
- Growing demand for access to entertainment at any time and on any device is one of the biggest drivers for the OTT video services market. Another key factor is price, which is lower than a more complete paid-TV subscription.
- The personal computer (PC) remains the most-used device to watch online content by Latin American viewers, although smartphones and tablets are close to reaching the same level.
- The Latin American OTT video services market alone was worth $756 million in 2015, with a growth of almost 60% from 2012 to 2015.
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