According to Digital TV Research, revenues from over-the-top (OTT) TV episodes and movies in 19 Latin American countries will grow by $4 billion to $6.43 billion in 2023, up from the $2.47 billion recorded in 2017.
The research house says the top five countries will generate $5.32 billion in revenues by 2023, for 83% of the regional total. Subscription VOD (SVOD) is expected to 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% of the region's TV households will pay for an SVOD package, up from 13.2% by end-2017. Puerto Rico (53.5%) and Mexico (51.8%) will have the highest penetration by 2023. These two countries are the only ones in the region where Amazon Prime operates."