Latin America OTT Platform Market to Grow at 10.9% During 2024-2032, Fostered by Rapid Expansion in the Media and Entertainment Industry

November 02, 2022 | Technology & Media

The latest report by IMARC Group, titled “Latin America OTT Platform Market Report by Revenue Model (Subscription Based, Advertising Based, Transaction Based, and Others), Content Type (Video, Audio/Voip, Online Gaming, Music Streaming, Communication, and Others), Streaming Device (Smartphones and Tablets, Desktops and Laptops, Smart TV’s and Set-Top Box, Gaming Console, and Others), User Type (Personal, Commercial), Service Vertical (Media and Entertainment, Education and Learning, Gaming, Health and Fitness, IT and Telecom, E-commerce, and Others), and Country 2024-2032,” finds that the Latin America OTT platform market is anticipated to exhibit a CAGR of 10.9% during 2024-2032. Over-the-top (OTT) platforms refer to media services that allow users to stream audio, video, and digital media content directly over the internet. They enable viewers to access the content on various electronic devices, such as smartphones, tablets, laptops, and smart TVs, eliminating the need for cable or satellite television subscriptions. They offer unlimited data streaming and provide enhanced flexibility to stream movies, TV series, music, podcasts, and documentaries. They are widely used for entertainment, health and fitness, and education purposes. As a result, OTT platforms are gaining immense popularity in Latin America for streaming music, live broadcasting, watching educational channels, advertising, and communication.

Latin America OTT Platform Market Trends:

In Latin America, the rapid expansion in the media and entertainment industry has led to increased production of high-quality media content. This, in confluence with the easy availability of high-speed internet and elevating sales of smart devices, represents the primary factor driving the market growth. Additionally, there has been a substantial shift from the traditionally used cables and satellite TV sets toward OTT platforms due to their enhanced convenience, connectivity, accessibility, and portability. In line with this, the increasing viewership of high-quality streaming content, especially amid the sudden coronavirus disease (COVID-19) outbreak and the consequent implementation of lockdowns, has accelerated the adoption of OTT platforms across the region. Besides this, the rising popularity of freemium viewing models and Subscription-Video-on-Demand (SVoD) platforms has propelled the market growth. Furthermore, various OTT service providers are adopting innovative technologies, such as artificial intelligence (AI), for analyzing user preferences and offering customized content recommendations. Along with this, the emergence of new OTT platforms with a list of subscription-based narrowed genre series, films, podcasts, videos, music, and TV programs has catalyzed the market growth. Moreover, the ongoing collaborations between telecom operators and OTT service providers to offer subscriptions at comparatively lower prices are positively influencing market growth. Other factors, including surging product adoption for advertising purposes, rising consumer expenditure on entertainment and related services, improving communication infrastructure, and technological advancements, are also creating a favorable market outlook. 

Market Summary:

  • Based on the revenue model, the market has been segmented into subscription-based, advertising-based, transaction-based, and others.
  • On the basis of the content type, the market has been classified into video (entertainment and infotainment, food, travel and fashion, and sports content), audio/VoIP, online gaming, music streaming, communication, and others. 
  • The market has been divided based on the streaming device into smartphones and tablets, desktops and laptops, smart TVs and set-top box, gaming console, and others. 
  • Based on the user type, the market has been bifurcated into personal and commercial. 
  • On the basis of the service vertical, the market has been categorized into media and entertainment, education and learning, gaming, health and fitness, IT and telecom, e-commerce, and others. 
  • Country-wise, the market has been segregated into Argentina, Brazil, Mexico, Uruguay, Colombia, Chile, Peru, and others.
  • The competitive landscape of the market has also been analyzed, with some of the key players being Amazon Prime Video (, Inc.), Blim (Televisa S.A. de C.V), Cabletica (Liberty Latin America Ltd.), Claro Video (Claro), Fox (Fox Networks Group), Globo Play (Grupo Globo), Home Box Office Inc. (AT&T Inc.), Movistar Play (Telefónica S.A.), Netflix Inc., and Millicom International Cellular SA.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Revenue Model, Content Type, Streaming Device, User Type, Service Vertical, Country
Countries Covered Argentina, Brazil, Mexico, Uruguay, Colombia, Chile, Peru, Others
Companies Covered Amazon Prime Video (, Blim (Televisa S.A. de C.V), Cabletica (Liberty Latin America Ltd.), Claro Video (Claro), Fox (Fox Networks Group), Globo Play (Grupo Globo), Home Box Office Inc.( AT&T Inc.), Movistar Play, Netflix Inc. and Millicom International Cellular SA
Customization Scope 10% Free Customization
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Five User License: US$ 3699
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Latin America OTT Platform Market to Grow at 10.9% During 2024-2032, Fostered by Rapid Expansion in the Media and Entertainment Industry
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