A Dataxis report suggests there are currently around around 17.4 million SVOD subs in Latin America, with this figure rising to 33.5 million in 2022.
The rise in subs will be incremental, with between two and four million new customers taking services each year.
Netflix, which launched in Latin America in 2011, will remain the region’s dominant player and take around 60% of the market over the next five years.
This tallies with Digital TV Research forecasts from October last year. The firm predicted Netflix would gain 16.65 million subs in the region by 2021, more than its rivals combined.
However, Dataxis noted 91% of Netflix subs in 2016 were concentrated in just four markets: Mexico (48.6% of overall Lat Am subs), Brazil (31%), Colombia (6.6%) and Argentina (6.5%).
Dataxis also noted that last year saw the emergence of various niche VOD services, while new models saw windows shortening.