According to the Inter-American Development Bank, 5.7 billion dollars were invested in audiovisual productions in Latin America and the Caribbean, promoting the creation of more than 1.6 million direct and indirect jobs. In turn, Brazil, Mexico, Argentina, Chile and Colombia stand out as the countries in the region that have the most robust and developed audiovisual industries.
Its growth in the region has been such that manufacturers and integrators see countries like Colombia as a development center for this technology, taking into account that by 2022, the OTT market in Latin America had reached US$ 16.6 thousand. million and with a view to US$32.4 billion in 2028, with a growth rate of 11.8%.
Faced with this dynamic of the sector, the Latin American broadcast industry market study 2022 concludes that the main OTT consumption segments in the region are corporate with 30.43% participation, government and education, with 21.74%. , commerce with 17.39%, health with 13.04%, tourism with 8.70%, and the residential sector with 8.70%.
In this sense, says Max Jaramillo, expert and CEO of Latin Press, an organization that in October brings the specialized technology fair, IntegraTEC, to Bogotá, ‘although the success in the region of OTT platforms such as Netflix, Amazon, Prime Video, Disney+ and HBO Max is undeniable, he is already making great strides, a competence that will surely force them to evolve’.
‘I am referring to the arrival of AvOD (Advertising-based Video on Demand) platforms or streaming advertising in videos on demand, a new model of consumption of audiovisual content that has the attractive characteristic of being free, in exchange for viewers allow the presence of advertising on their screens’, said the president of Latin Press.
In line with this type of currents, the Latin American Broadcast Industry Market Study 2022 highlights the following trends that will impact the region in the very near future:
Increase in penetration: Latin America will have 81 million Subscription Video On Demand (SVOD) and OTT subscriptions by 2025 and will contribute US$9.7 billion by 2027. Now, of the US$7 billion that OTT will contribute between 2021 and By 2027, SVOD will provide US$4.5 billion, while AVoD will provide a figure close to US$2 billion.
Podcasts, the format that continues to increase: in the world there are close to 1,000 million people who listen to podcasts, and it is expected that in the coming years Latin America, Asia Pacific and China will register a 70% growth in users of this technology .
Digitalization of platforms and the incorporation of new technologies: The need arises to implement technologies that strengthen processes and make it easier for users to learn about those technological and operational elements that allow the IP environment to be managed more efficiently.
Greater OTT penetration: As OTT and video streaming expand at the pace of the Latin American mobile market, there are more opportunities to combine new services with pay TV and deliver them more reliably at a lower cost per satellite . The upward trend is strong: by 2025, OTT will represent 9.7% of the Pay TV market” was stated in a report by Intelsat.
Augmented reality: This resource has made a splash in the world of Broadcast, becoming a marketing and communication tool for companies. According to ABI Research, the value of the total augmented reality market is expected to grow exponentially to exceed $140 billion by 2025.
