Driven by Netflix, the market shows a 60% annual growth rate according to published by Dataxis' NexTV LATAM, which reveals that the industry generated $640 million in revenues during 2015.
An increasing offer – there are 94 subscription VOD platforms in the region – has made OTT account for 15% of legal pay-TV subscriber figures. The report points out that penetration might be even higher, as account-sharing is a regular practice with OTT services.
Six out of ten VOD subscriptions in Latin America are for Netflix, which leads the market far ahead of the second player, América Móvil's Clarovideo, with 25%.
Both having regional reach, they're also the strongest in LATAM's largest markets, with Netflix Mexico, Netflix Brazil and Clarovideo Mexico being the three services with the most subscribers across the region. Other local platforms, like Telecom and Telefónica in Argentina or SKY in Brazil, are also gaining importance says the report.
As other reports have also found, Mexico is the region's main OTT market, accounting for 47% of total paid subscriptions, followed by Brazil (30%). Argentina, Colombia and Chile complete a top-five which totals 94% of the region's OTT accounts.