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

Mexico has seen a rapid development of internet and mobile device convergence services as a result of the advancement of IT and media technologies, as well as a surge in M&A activity over the last decade. The expansion of the internet ecosystem, which includes low-cost, powerful devices, communities of web entrepreneurs, and faster internet connections, are factors that contribute to the increasing adoption of the OTT market in Mexico. The shifting consumer preference toward online content as a result of the increased availability of high-speed internet in Mexico provides a boost to market growth. The growing availability of high-speed Internet connectivity, wireless data plans, and public Wi-Fi has increased demand for OTT in a variety of applications, including health, finance, e-commerce, education, and others. Regional penetration is determined by a variety of factors, including internet accessibility, low-cost internet, network infrastructure, preference for regional content, smartphone penetration, competitor brand dominance, media regulations, and spending preferences. With SVOD penetration in Mexico still at an all-time low, there is enormous room for growth. According to the research report, "Mexico Over The Top (OTT) Market Research Report, 2028," published by Actual Market Research, the market is anticipated to add USD 1.89 Billion by the end of 2028. Due to the increase in the number of digital video consumers, media and entertainment dominated the over-the-top market share and is expected to remain dominant during the forecast period. This will increase demand for OTT services in the media and entertainment industry. 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. During the forecast period, SmartTVs and set-top boxes dominated the market share. 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 easily accessible internet, raises the market's perception of OTT services for personal entertainment and knowledge. By age group (16–64), the average amount of time that Mexico users spend each day includes around 9 hours on the internet, around 4 hours on television, more than 3 hours for social media, and more than 2 hour listening to music streaming services. In Mexico 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. In January 2022, Mexico had approximately 96.87 million internet users. In Mexico, approximately 34.04 million people did not use the internet at the beginning of 2022, representing nearly 26 percent of the population. In January 2022, Mexico had over 102 million social media users. According to Meta's advertising resources, Facebook had nearly 89.70 million users in Mexico in early 2022. According to Google's advertising resources, YouTube had nearly 80.60 million users in Mexico in early 2022. According to Meta's advertising tools, Instagram had nearly 37.85 million users in Mexico in early 2022. According to ByteDance's advertising resources, TikTok had approximately 46 million users aged 18 and up in Mexico in early 2022.According to Meta's advertising resources, ads on Facebook Messenger reached nearly 61.80 million users in Mexico in early 2022. According to LinkedIn's advertising resources, LinkedIn had approximately 17.00 million "members" in Mexico in early 2022.According to Meta's advertising resources; ads on Facebook Messenger reached nearly 61.80 million users in Mexico in early 2022. According to LinkedIn's advertising resources, LinkedIn had approximately 17.00 million "members" in Mexico in early 2022. Netflix is one of the region's most popular platforms. Its international rivals, Amazon Prime Video, Disney+, HBO Max, and Apple TV+, as well as local streaming services owned by major TV networks or telecommunications companies, Claro Video, Blim TV, and Globoplay, are gaining popularity in the region. On September 12th, 2011, Netflix launched in Mexico as part of its rollover into 43 countries in the region ("Netflix Arrives in Mexico", 2011). Some of the other Streaming Services Available in Mexico are Tencent Video, iQIYI, Apple, MUBI, Crunchyroll. The availability of new and advanced smartphone features is expected to propel the Canada OTT content market growth during the forecast period. Smartphone manufacturers are introducing novel and advanced features in smartphones to meet rising consumer demand for a personalised experience. An integrated camera, 4G LTE connectivity, powerful microprocessors, integrated sensors, and a long battery life are among the features. Furthermore, changing modern consumers' social lifestyles in which they consume a large volume of videos, audio files, and data are expected to propel the Canada OTT content market growth over the forecast period. To access the content, Over the Top service providers offer various subscription packages and deals. However, in order to gain access to multiple platforms, the user must pay a separate subscription fee for each platform service. This raises the platform's overall spending. With the rapid launch of new Over the Top platforms, users are rapidly shifting between platforms to view unique offers. Subscription cancellations are also being caused by higher prices and low-quality content. During the COVID -19 pandemic, film studios and content creators have been hit hard by cinema complex/hall closures. National producers are increasingly turning to OTT to deal with the situation. The prolonged lockdowns and the current state of the economy have thrown open the doors to the world of entertainment via OTT. People are wary of going to theatres to watch entertainment content, so OTT media platforms have grown in popularity. Netflix, for example, has stepped in to fill the void. To reach viewers, entertainment content producers are turning to OTT service providers. With so many OTT services available to users, it is difficult to attract and retain new subscribers. Customers typically receive free or discounted introductory offers. Subscribers can sign up for a free trial and then cancel when it expires; in the meantime, a lack of new content drives away subscribers, and the complex user interface can cause customers to unsubscribe from the service. To avoid this, many service providers prioritise high-quality content and a pleasant user experience. Considered in this report • Geography: Mexico • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Mexico 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.