OTT Video - Dominican Republic | Statista Market Forecast

In the Dominican Republic, revenue in the OTT Video market market is projected to reach US$133.00m in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.45%, resulting in a projected market volume of US$165.40m by 2029.
The largest market within this market in the Dominican Republic is OTT Video Advertising, with a market volume of US$68.35m in 2024.
In a global context, the majority of revenue will be generated the United States, amounting to US$133.70bn in 2024.
Furthermore, in the OTT Video market market, the number of users in the Dominican Republic is expected to reach 7.6m users by 2029.
User penetration in this market will be 53.8% in 2024 and is anticipated to increase to 64.2% by 2029.
The average revenue per user (ARPU) within the OTT Video market market in the Dominican Republic is projected to amount to US$21.63 in 2024.
Additionally, the usage share of Netflix is estimated to account for 21.0% of the Videostreaming (SVoD) market in the selected region in 2023.
The OTT video market in the Dominican Republic is experiencing significant growth, driven by increasing internet penetration and a rising demand for diverse content options.

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 Dominican Republic has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of high-speed internet access.

Customer preferences: Customers in Dominican Republic are increasingly turning to OTT video platforms for their entertainment needs. This shift in preference can be attributed to several factors. Firstly, the convenience of on-demand content allows viewers to watch their favorite shows and movies at their own pace, without the need to adhere to traditional broadcast schedules. Additionally, the wide range of content available on OTT platforms caters to diverse tastes and interests, providing viewers with a personalized viewing experience.

Trends in the market: One of the key trends in the OTT Video market in Dominican Republic is the growing popularity of local content. Viewers are showing a strong preference for content that reflects their own culture and language, leading to an increase in the production and availability of local content on OTT platforms. This trend is driven by the desire for authentic and relatable storytelling, as well as the support for local talent and industries. Another trend in the market is the rise of mobile streaming. With the widespread adoption of smartphones and the expansion of mobile internet coverage, more and more viewers are accessing OTT video platforms through their mobile devices. This trend is particularly prominent in Dominican Republic, where mobile penetration is high and mobile data plans are affordable. As a result, OTT platforms are increasingly optimizing their services for mobile users, offering seamless streaming experiences and mobile-friendly interfaces.

Local special circumstances: The OTT Video market in Dominican Republic is also influenced by local special circumstances. One of these circumstances is the dominance of a few key players in the market. While there is some competition from international OTT platforms, local players have established a strong presence and enjoy a loyal customer base. This is due to their understanding of the local market and their ability to cater to the specific preferences and needs of Dominican viewers.

Underlying macroeconomic factors: The growth of the OTT Video market in Dominican Republic is supported by several underlying macroeconomic factors. Firstly, the increasing availability and affordability of high-speed internet access have made it easier for viewers to stream content online. This has led to a larger audience base for OTT platforms and a higher demand for their services. Additionally, the rising disposable income and improving living standards in Dominican Republic have contributed to the growth of the OTT Video market. As consumers have more discretionary income, they are willing to spend on entertainment options such as OTT subscriptions. This has created a favorable environment for the expansion of the market. In conclusion, the OTT Video market in Dominican Republic is experiencing growth due to changing customer preferences, the availability of local content, the rise of mobile streaming, local special circumstances, and underlying macroeconomic factors. As these trends continue to evolve, the market is expected to further expand 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.