Video-on-Demand - Caribbean | Statista Market Forecast

The projected revenue in the Video-on-Demand market in the Caribbean is estimated to reach US$223.20m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2027) of 4.28%, resulting in a projected market volume of US$253.10m by 2027.
Among the various market segments, Video Streaming (SVoD)) holds the largest market share with a volume of US$147.00m in 2024.
When compared globally, United States is expected to generate the highest revenue, reaching US$80.30bn in 2024.
In terms of user base, the number of Video-on-Demand market users in the Caribbean is projected to reach 16.6m users by 2027.
The user penetration rate is anticipated to increase from 34.9% in 2024 to 40.5% by 2027.
The Video-on-Demand market in the Caribbean is experiencing rapid growth, driven by an increasing demand for local content and the expansion of high-speed internet access.

Definition:

Video on Demand (VoD) 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 Advertising (AVoD), 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 video-on-demand can also be found in the OTT video market. Key players in the market are companies, such as Netflix, Amazon or Disney+.

Over-the-top Video-on-Demand (VoD) content distributed over the Internet
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)

Ad-supported content and services
User-generated content (UGC)

After capturing the living rooms all over the globe in recent years, Video Streaming giants like Netflix and Amazon Prime Video see themselves confronted with first signs of market saturation. While the idea of having unlimited access to an ever-growing library of video content was attractive enough for customers to subscribe to such services, latest developments like Disney’s market entry and frequent price hikes will put consumers’ loyalty under test. It has to be observed whether Netflix’ and Amazon’s efforts to face growing competition and changing consumer tastes by boosting exclusive content production will be enough.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Video-on-Demand market. Video-on-demand is defined as premium over-the-top video-on-demand (VoD) content distributed over the internet. This includes pay-per-view (TVoD), video downloads (EST), and video streaming (SVoD). 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., the Statista Global Consumer Survey), 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 various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

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. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

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). GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital 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.