Colombia Over The Top (OTT) Market Research Report, 2028

Colombia's OTT market is relatively new, but growing rapidly, with a large and expanding user base. The market is dominated by a few large international companies, including Netflix, Amazon Prime Video, and Disney+ Hotstar, which offer a wide range of content to Colombian users. Local players, such as Flow and Tu Mejor TV, also have a significant market share. The platforms offer a mix of licensed content, original productions, and user-generated content. There is a strong demand for local content in Colombia, and the platforms are investing in producing and licensing high-quality Colombian content. The primary revenue sources for OTT platforms in Colombia include subscription fees, advertising, and e-commerce. The Colombia OTT market is highly competitive, with each platform striving to offer the best user experience and exclusive content to attract and retain users. The Colombia OTT market is expected to continue growing in the future, driven by increasing internet penetration and a growing middle class with high disposable income. The demand for high-quality, locally produced content is also expected to increase, providing new opportunities for OTT platforms. According to the research report, "Colombia over the Top (OTT) Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 0.67 billion by the end of 2028. Due to the increase in the number of digital video consumers, media and entertainment dominated over-the-top market share during the forecast period. This will increase demand for OTT services in the media and entertainment industries. However, the communication industry is expected to grow at the fastest rate during the forecast period due to an increase in demand for over-the-top services in the telecommunications industry for video calling, voice, and messaging services. By device type, SmartTVs and set-top boxes dominated the market. Because of the larger screen and easy switching options between cable and OTT platforms. Furthermore, as smartphone penetration increased, smartphones became the second most popular device for streaming OTT platforms. They are also inexpensive, allowing people of all income levels to use smartphones and streaming platforms. During the forecasted period, subscription VOD is expected to manage the market. This is primarily due to an increase in the number of subscribers using over-the-top (OTT) platforms. Furthermore, due to the high demand for advertising videos for product and service promotion, advertisement-based VOD is steadily increasing. The market is divided into personal and commercial user types. The market is expected to be driven by the personal user segment. The growing use of smartphones and tablets, as well as the easily accessible internet, raises the market's perception of OTT services for personal entertainment and knowledge. In Colombia, around 70% of people watch music videos. 50% of people watch a comedy, meme, or viral video. Around 25% of people watch video livestreams. More than 40% of people watch educational videos. More than 30% of people watch sports highlights or clips. Around 25% of people watch Gaming Videos. More than a quarter of all people watch Influencer videos and vlogs. In UAE population ranging from16 to 64 years the average amount of time that Colombia users spend each day includes 10 hours on the internet, around 4 hours on television, more than 3 hours for social media, and more than 1 hour listening to music streaming services. In Colombian OTT market, some of the major reason for the higher utilization of internet by the age group of 16-64 includes finding information, researching how to do things, finding new ideas and inspiration, staying in touch with friends and family, researching brands, education and study, watching videos, TV shows and movies, listening to music, researching health issues and products, researching places, travel, business networking and many more. Colombia’s total population was 51.39 million. In January 2022, Colombia had more than 35.50 million internet users. At the start of 2022, Colombia's internet penetration rate was around 70% of the total population. Around 16 million Colombians did not use the internet at the start of 2022, implying that roughly 30% of the population was offline at the start of the year. In January 2022, Colombia had more than 40 million social media users. According to Meta's advertising resources, Facebook had approximately 35.15 million users in Colombia. According to Google's advertising resources, YouTube had approximately 30.40 million users in Colombia. According to Meta's advertising tools, Instagram had approximately 18.30 million users in Colombia. According to LinkedIn's advertising resources, the company has more than 10.00 million "members" in Colombia. According to Snap's advertising resources, Snapchat had approximately 6.25 million users in Colombia. According to Twitter's advertising resources, there were approximately 4.30 million users in Colombia. Considered in this report • Geography: Colombia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Colombia Over The Top (OTT) market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Type: • AVOD (Advertising-based Video On Demand) • SVOD (Subscription Video on Demand) • TVOD (Transactional Video on Demand) • Others By Device Type: • Smartphones and Tablets • Desktops and Laptops • Smart TVs & Set-Top Box • Gaming Consoles & Streaming Devices By Content Type: • Video Streaming • Game Streaming • Audio Streaming • Communication By Service Verticals: • Media and Entertainment • Education and Learning • Gaming • Service Utilities By User Type: • Personal • Commercial By Component Type: • Solution • Services The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Over The Top (OTT) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.