Latin America to gain 55 million SVOD subs by 2029

Latin America will attract 55 million new SVOD subscribers by 2029, predicts market research company Digital TV Research.

Source: Digital TV Research

This will be up from the 110m million subs at the end of 2023, reaching 165 million subs within those six years.

Seven US-based platforms including Netflix, Amazon Prime Video, Disney+, Star+, Paramount+, Apple TV+ and Max will account for 83% of the region’s paying SVOD subscriptions by end of 2029.

Netflix is forecasted to add 9 million subscribers between 2023 and 2029, with Disney+ up by 8 million, Max (formerly HBO Max) by 10 million and Paramount+ increasing by 6 million. Globoplay, only available in Brazil, will take another 8% of the total.

Digital TV Research previously reported the cable-cutting movement in Latin America is expected to lose momentum and will settle at 53-54 million pay TV subs from 2023 to 2029. The company’s findings showed pay TV subs in Latin America will only decline by 1.7 million from 2023 to reach 53.1 million by 2029. This is down by approximately 20 million from the peak of 73 million in 2017.

In comparison, the company most recently reported North American OTT revenue is it expected to climb by $19 billion from $81 billion in 2023 to $100 billion in 2029. Meanwhile, it expects global SVOD revenue to rise to $127 billion in the next six years, up from the $107 billion recorded in 2023.

Simon Murray, principal analyst at Digital TV Research, said: “All of the major US platforms are very active in Latin America. Another dimension is added by local players such as Globo and Televisa [Vix].”