Key regions: China, South Korea, Asia, France, United Kingdom
The TV & Video market in Latvia has been experiencing significant growth in recent years. Customer preferences have shifted towards streaming services and on-demand content, leading to an increase in the consumption of digital video content. This trend is driven by the convenience and flexibility offered by these platforms, allowing viewers to watch their favorite shows and movies at their own pace and on multiple devices.
Customer preferences: Latvian consumers have increasingly embraced streaming services such as Netflix, Amazon Prime Video, and local platforms like TVPlay and Go3. These platforms offer a wide range of content, including both local and international TV shows, movies, and documentaries. The convenience of streaming services, with their on-demand nature and ability to watch content on multiple devices, has made them highly popular among viewers. Another customer preference in the Latvian TV & Video market is the growing demand for high-quality content. Viewers are seeking out shows and movies that are well-produced and offer engaging storytelling. This has led to an increase in the production of original content by streaming platforms, as well as the acquisition of rights to popular international series and movies.
Trends in the market: One of the key trends in the Latvian TV & Video market is the decline in traditional cable and satellite TV subscriptions. As more viewers switch to streaming services, the demand for traditional TV packages has decreased. This has led to a shift in the market dynamics, with streaming platforms gaining a larger share of the market. Another trend is the emergence of local streaming platforms that cater specifically to Latvian viewers. These platforms offer a mix of local and international content, providing viewers with a diverse range of options. This trend reflects the growing demand for content that is relevant to the local audience, including local TV shows, movies, and documentaries.
Local special circumstances: The Latvian TV & Video market is unique in its small size and relatively low population. This presents both opportunities and challenges for market players. On one hand, the market size allows for more targeted content and personalized recommendations for viewers. On the other hand, it can be challenging for streaming platforms to achieve economies of scale and profitability in such a small market.
Underlying macroeconomic factors: The growth of the TV & Video market in Latvia is influenced by several macroeconomic factors. The increasing availability of high-speed internet and the growing adoption of smartphones and other connected devices have made it easier for viewers to access streaming services. Additionally, the relatively high disposable income of Latvian consumers has enabled them to subscribe to multiple streaming platforms and invest in high-quality content. Overall, the TV & Video market in Latvia is evolving to meet the changing preferences of consumers. The rise of streaming services and the decline of traditional TV subscriptions reflect the shift towards digital content consumption. As the market continues to develop, it is likely that we will see further innovation in terms of content offerings and delivery 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 segment. This spending factors in discounts, margins, and taxes.Modeling approach / Segment size:
The segment 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 segment 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 segment. 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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