OTT Video - Peru | Statista Market Forecast

In Peru, revenue in the OTT Video market market is projected to reach US$301.80m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.80%, resulting in a projected market volume of US$381.50m by 2029.
The largest market within this market in Peru is Video Streaming (SVoD), which is anticipated to generate a market volume of US$203.90m in 2024.
In a global context, the most revenue will be generated the United States, with US$133.70bn in 2024.
In the OTT Video market market specific to in Peru, the number of users is expected to amount to 24.6m users by 2029.
User penetration in Peru will be 59.0% in 2024 and is expected to rise to 67.5% by 2029.
The average revenue per user (ARPU) in the OTT Video market market in Peru is projected to reach US$14.75 in 2024.
Additionally, the usage share of Other is estimated to account for 16.0% of the Videostreaming (SVoD) market in the selected region for the year 2023.
As Peru's digital infrastructure improves, the OTT video market is increasingly attracting local content creators to meet rising consumer demand for diverse streaming 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 Peru is experiencing significant growth and development in recent years.

Customer preferences: Peruvian consumers are increasingly turning to OTT Video platforms for their entertainment needs. This shift in consumer behavior can be attributed to several factors. Firstly, the convenience and flexibility offered by OTT Video services allow users to access a wide range of content anytime and anywhere. This aligns with the changing lifestyles and increasing demand for on-the-go entertainment. Additionally, the availability of a diverse selection of content, including local and international movies, TV shows, and original productions, caters to the varied preferences of Peruvian viewers.

Trends in the market: One of the key trends in the OTT Video market in Peru is the growing adoption of subscription-based models. This is driven by the increasing number of OTT Video platforms that offer affordable subscription plans, allowing users to access unlimited content for a fixed monthly fee. This model appeals to cost-conscious consumers who seek value for money and a wide range of content options. Furthermore, the rise of local OTT Video platforms and the expansion of international players in the Peruvian market have intensified competition, leading to more competitive pricing and better offerings for consumers.

Local special circumstances: Peru has a rapidly expanding internet infrastructure, which has facilitated the growth of the OTT Video market. With the increasing availability of high-speed internet connections, Peruvian consumers can easily stream and enjoy content on their preferred devices. Furthermore, the relatively young population in Peru, with a high percentage of tech-savvy millennials and Gen Z, is driving the demand for OTT Video services. These demographics are more inclined to consume content online and are early adopters of new technologies.

Underlying macroeconomic factors: The improving economic conditions in Peru have also contributed to the growth of the OTT Video market. As disposable incomes increase, consumers are willing to spend more on entertainment and leisure activities. This has created a favorable environment for OTT Video platforms to thrive, as consumers have the financial capacity to subscribe to these services. Additionally, the government's efforts to promote digitalization and expand access to the internet have further facilitated the growth of the OTT Video market in Peru. In conclusion, the OTT Video market in Peru is experiencing significant growth and development, driven by changing customer preferences, the adoption of subscription-based models, local special circumstances, and favorable macroeconomic factors. As the market continues to evolve, it is expected that OTT Video platforms will play an increasingly important role in the entertainment landscape of Peru.

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.