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5 trends for OTT growth in Latam

integratec colombia

Colombia. According to the Inter-American Development Bank, in Latin America and the Caribbean, 5.7 billion dollars were invested in audiovisual productions, 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 more robust and developed audiovisual industries.

Such has been its growth in the region, that manufacturers and integrators see in Colombia a development center for this technology taking into account that by 2022, the OTT market in Latin America reached US $ 16.6 billion and is expected to reach US $ 32.4 billion by 2028, with a growth rate of 11.8%.

Faced with this dynamic of the sector, the Market Study of the broadcast industry Latin America 2022 concludes that the main OTT consumer 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 to Bogotá the fair specialized in technology, IntegraTEC, "although the success in the region of OTT platforms such as Netflix, Amazon, Prime Video, Disney + and HBO Max is undeniable, it is already advancing in great strides, a competition that will surely force them to evolve".

"I am referring to the arrival of AvOD (Advertising-based Video on Demand) platforms, a new model of audiovisual content consumption that has the attractive characteristic of being free, in exchange for viewers allowing the presence of advertising on their screens," says the president of Latin Press.

- Publicidad -

In line with this type of currents, the Latin America Broadcast Industry Market Study 2022 highlights the following trends that will impact the region in the very near future:

1 Increase in penetration: Latin America will have 81 million subscription Video on Demand (SVOD) and OTT subscriptions by 2025 and contribute US$9.7 billion by 2027. Now, of the US $ 7,000 million that the OTT will contribute between 2021 and 2027, the SVOD will provide US $ 4,500 million, while the AVoD will contribute a figure close to US $ 2,000 million.

2 Podcasts, the format that continues to increase: in the world there are about 1,000 million people who listen to podcasts, and it is expected that in the coming years Latin America, Asia Pacific and China, register a growth of 70% of users of this technology.

3 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 know about those technological and operational elements that allow the IP environment to be managed more efficiently.

4 Increased OTT penetration: As OTT and video streaming expand at the pace of Latin America's 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," said a report by Intelsat.

5 Augmented reality: This resource has made scale 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.

According to Max Jaramillo, "these trends will have their epicenter of forum, discussion and exhibition at our IntegraTEC fair, which we have already scheduled to take place in October in Bogotá and which will cover all the topics of interest of the industries and sectors that have always been our reason for being: audio, video and professional lighting for corporate sectors, commercial and residential; digital signage, automation, unified communications, data networks, and production, post-production and transmission of TV, video and radio"

This event, whose pre-registration is already open at www.integratec.show, responds to the convergence that these technologies have had in recent years and that until 2021 we convene for 15 years, through the TecnoMultimedia, TecnoTelevisión & Radio, and Expo DataNet fairs that today congregate in the new IntegraTEC.

Richard Santa, RAVT
Author: Richard Santa, RAVT
Editor
Periodista de la Universidad de Antioquia (2010), con experiencia en temas sobre tecnología y economía. Editor de las revistas TVyVideo+Radio y AVI Latinoamérica. Coordinador académico de TecnoTelevisión&Radio.

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