Over-the-top video services like Netflix will account for 25% of Latin American video consumption in 2025, according to new research.
The Diffusion Group’s El Futuro de TV – OTT Video in Latin America, 2015-2025 report claims that by 2025 OTT will also generate US$8 billion in annual revenue in the region.
“Latin America is an important global market by virtue of its size, growth, and cultural relevance–and, of course, its crossover with an increasingly Hispanic US market. This developing opportunity was not lost on Netflix, which first entered the market in 2011 and is now available in 43 countries across the region,” said TDG senior analyst, Joel Espelien.
“The fact that Netflix is expanding its efforts in the region should send a strong message to others that the time for entry is now.”
In April, Netflix reported that it had more than five million subscribers in Latin America.