Key regions: United Kingdom, Germany, South Korea, Asia, India
The OTT Video market in Mexico has been experiencing significant growth in recent years. Customer preferences have shifted towards consuming video content online, leading to the rise in popularity of OTT platforms. This trend is driven by several factors, including the increasing availability of high-speed internet, the growing adoption of smartphones, and the desire for on-demand and personalized content.
Customer preferences: Mexican consumers are increasingly turning to OTT video platforms for their entertainment needs. This shift can be attributed to the convenience and flexibility offered by these platforms. With access to a wide range of content available at their fingertips, consumers can choose what, when, and where to watch. This freedom of choice is particularly appealing to younger demographics who are more tech-savvy and prefer the convenience of streaming content online.
Trends in the market: One of the key trends in the OTT Video market in Mexico is the proliferation of local and international streaming platforms. While international players like Netflix and Amazon Prime Video dominate the market, local platforms such as Claro Video and Blim have gained traction by offering a mix of local and international content. This trend reflects the demand for diverse content that caters to the preferences of Mexican viewers. Another trend in the market is the increasing production of original content by OTT platforms. This trend is driven by the desire to attract and retain subscribers through exclusive and high-quality content. Platforms like Netflix have invested heavily in producing original Mexican series and movies, which have gained popularity not only in Mexico but also internationally. This trend has not only contributed to the growth of the OTT Video market in Mexico but has also boosted the local entertainment industry.
Local special circumstances: Mexico's large population and growing middle class are key factors contributing to the growth of the OTT Video market. As more people gain access to affordable internet and smartphones, the potential customer base for OTT platforms continues to expand. Additionally, the popularity of Mexican telenovelas and the strong cultural influence of Mexico in the region make it an attractive market for both local and international OTT players.
Underlying macroeconomic factors: The growth of the OTT Video market in Mexico is also influenced by underlying macroeconomic factors. The Mexican economy has been relatively stable, and disposable incomes have been increasing. This allows consumers to spend more on entertainment and leisure activities, including subscribing to OTT platforms. Furthermore, the COVID-19 pandemic has accelerated the adoption of OTT services as people have spent more time at home and sought entertainment options online. In conclusion, the OTT Video market in Mexico is experiencing significant growth due to changing customer preferences, the availability of high-speed internet, and the desire for on-demand content. The market is characterized by a mix of local and international players, with a focus on producing original content to attract and retain subscribers. Mexico's large population, growing middle class, and stable economy contribute to the market's growth, making it an attractive destination for OTT platforms.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.Modeling approach / market size:
The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.
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