Key regions: China, South Korea, Asia, France, United Kingdom
The TV & Video market in Peru has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Peruvian consumers have shown a growing interest in TV and video content, with an increasing demand for both traditional broadcast and online streaming services. This shift in preferences can be attributed to several factors, including the rising popularity of smartphones and other mobile devices, which allow users to access video content anytime and anywhere. Additionally, the availability of high-speed internet connections has made it easier for Peruvians to stream videos online, leading to a surge in subscription-based video-on-demand services.
Trends in the market: One of the key trends in the TV & Video market in Peru is the rapid adoption of streaming services. Streaming platforms such as Netflix, Amazon Prime Video, and Disney+ have gained significant traction in the country, offering a wide range of content options to consumers. This trend is expected to continue as more Peruvians embrace digital entertainment and seek out personalized viewing experiences. Furthermore, local broadcasters are also capitalizing on this trend by launching their own streaming platforms, providing a mix of local and international content to cater to the preferences of Peruvian viewers. Another notable trend in the market is the increasing demand for smart TVs. Peruvian consumers are increasingly looking for TVs with built-in internet connectivity and streaming capabilities, allowing them to access online content without the need for additional devices. This trend is driven by the convenience and seamless integration of smart TVs, as well as the declining prices of these devices. As a result, smart TVs are becoming the preferred choice for many Peruvian households, replacing traditional TVs.
Local special circumstances: Peru has a diverse population with varying cultural backgrounds and preferences, which has contributed to the growth of the TV & Video market. Local content plays a significant role in attracting viewers, as Peruvians have a strong affinity for their own culture and language. This has led to the production and broadcast of a wide range of local TV shows and movies, catering to the specific tastes and interests of Peruvian viewers. Additionally, the government has implemented policies to promote the local content industry, providing incentives and support for the production of local TV and video content.
Underlying macroeconomic factors: The growing TV & Video market in Peru is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has allowed more Peruvians to afford TVs and video streaming services, contributing to the expansion of the market. Furthermore, the increasing penetration of internet and mobile technologies has provided the infrastructure needed for the growth of the TV & Video market, enabling Peruvians to access and enjoy a wide range of content options.
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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