OTT Video - Chile | Statista Market Forecast

In Chile, revenue in the OTT Video market market is projected to reach US$654.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.09%, resulting in a projected market volume of US$879.10m by 2029.
The largest market in Chile is Video Streaming (SVoD), with a market volume of US$314.20m in 2024.
In global comparison, most revenue will be generated the United States, amounting to US$133.70bn in 2024.
In the OTT Video market market withChile, the number of users is expected to amount to 15.1m users by 2029.
User penetration in Chile will be 73.9% in 2024 and is expected to hit 76.1% by 2029.
The average revenue per user (ARPU) in the OTT Video market market in Chile is projected to amount to US$45.02 in 2024.
The usage share of Pluto TV in Chile amounts to an estimated 19.0% of the Videostreaming (SVoD) market and the selected region in 2023.
In Chile, the OTT video market is increasingly influenced by local content production, reflecting a growing demand for culturally relevant programming among viewers.

Definition:

OTT Video refers to a digital media distribution model where users can access and watch video content at their convenience, usually through an online platform or service. With VoD, users have the flexibility to choose what content they want to watch, when they want to watch it, and how they want to consume it. This allows users to stream or download video content on demand, without the need for traditional broadcasting schedules or physical media. VoD platforms typically offer a wide range of content, including movies, TV shows, documentaries, and other video content, which can be accessed and viewed instantly or stored for later viewing. VoD has become increasingly popular in recent years, offering convenience, flexibility, and a personalized viewing experience for users.

Structure:

The market consists of several markets, namely Video Streaming (SVoD), which is streaming on a subscription basis, Pay-per-View (TVoD), which is paying for digital video content and watch it online, Video Downloads (EST), which is the download of digital video content and OTT Video Advertising, which is the advertising in video streaming.

Additional Information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through purchases and subscriptions. Market numbers for OTT Video can also be found in the video-on-demand market. Key players in the market are companies, such as Netflix, Amazon or Disney+.

Rentals as single transaction or pay-per-view (transactional VoD or TVoD)
Subscription-based services (subscription VoD or SVoD)
Digital purchases via download or permanent cloud storage (electronic-sell-through or EST)
OTT Video Advertising
Free ad-supported streaming TV (FAST) services, such as Pluto TV or Freevee

Pay-TV subscriptions (cable TV, satellite TV, IPTV, DTTV)
Physical home video (DVD & Blu-ray)
Traditional TV advertising

The OTT Video market in Chile has experienced significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in Chile have shifted towards consuming video content online, as consumers seek convenience and flexibility in their viewing habits. With the increasing availability of high-speed internet and the proliferation of smartphones, more Chileans are turning to OTT platforms to access a wide range of video content, including movies, TV shows, and live sports. The ability to stream content on-demand and across multiple devices has become increasingly appealing to consumers, who value the freedom to watch their favorite shows whenever and wherever they want. Trends in the OTT Video market in Chile reflect the global market, but with some local nuances. One major trend is the rise of local and regional content. While international content remains popular, there is a growing demand for local productions that resonate with Chilean viewers. This trend is driven by a desire for content that reflects local culture, language, and social issues. OTT platforms are increasingly investing in original local content to cater to this demand and attract a larger audience. Another trend in the market is the increasing adoption of subscription-based models. Many OTT platforms in Chile offer subscription plans that provide unlimited access to a vast library of content for a monthly fee. This model has gained popularity among consumers who prefer a more cost-effective and convenient way to access their favorite shows and movies. Additionally, the availability of bundled services, where OTT platforms are offered as part of a larger package that includes internet or mobile services, has further contributed to the growth of the subscription-based model. Local special circumstances in Chile have also played a role in the development of the OTT Video market. One such circumstance is the high cost of traditional pay-TV services. Traditional cable and satellite TV subscriptions can be expensive, making OTT platforms a more affordable alternative for many Chilean consumers. Additionally, the relatively low penetration of traditional pay-TV services in rural areas has created an opportunity for OTT platforms to reach a wider audience. Underlying macroeconomic factors have also contributed to the growth of the OTT Video market in Chile. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more Chileans to afford internet connections and devices that enable them to access OTT platforms. Furthermore, the government has made efforts to improve internet infrastructure and promote digital connectivity, further facilitating the growth of the OTT Video market. In conclusion, the OTT Video market in Chile is thriving due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As more Chileans embrace online video streaming, the market is expected to continue expanding in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.