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Rising Popularity of OTT Services in Latin America to Aid Growth of Video Streaming and Digital Media Market

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Published on : Jul 07, 2016

ALBANY, New York, July 07, 2016: A new market research report, titled “Latin America - Video Streaming and Digital Media” is now featured on ResearchMoz.us. The report analyzes the market by stating its current value, size, and market performance and statistics. The report is an in-depth study of the key dynamics of the video streaming and digital media market in Latin America. The emergence of social networking websites and increasing use of mobile devices are expected to be propel the video streaming and digital media market in Latin America. 

Video applications are being used extensively by various industries for marketing, advertising, entertainment, demonstration, and communication purposes. Video streaming consumes most of the internet traffic and is set to continue to grow faster than any other digital formats. Video streaming over mobile networks is growing rapidly. Users are producing their own videos to share their interests with like-minded people, apart from watching the commercially produced media. 

Users make use of video streaming to watch live events, on-demand videos, and to communicate through video calling. Technological advancements have also led to the increased adoption of video streaming by various organizations for live conferencing, conducting interviews, launching of new products, special announcements, and to connect with the audience. Short video clips from time to time by organizations to connect with their customers have become popular. Moreover, video streaming helps businesses in marketing and improving their brand recognition among customers.

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Video streaming services such as over-the-top (OTT), pay TV, and internet protocol television have become very popular worldwide. These video streaming solutions facilitate instant access to information to customers via advertisements and videos, thus improving sales or business. Over-the-top services are being used on smartphones, tablets, and laptops. Apps that play an important role in providing OTT messaging services include WhatsApp, LINE, WeChat, and KakaoTalk. OTT services are spread using communication modes such as texts, audios, and videos. 

The digital media landscape in Latin America and Caribbean (LAC) region has seen significant changes in the last few years with respect to market consolidations and the impact of the rapidly growing OTT sector. Consolidations in the market have resulted in many countries being led by just a few players. For instance, the US telco AT&T acquired DirecTV in Mexico. Cable & Wireless Communications has acquired Columbus International in the Caribbean.

The video streaming and digital media market in Latin America faces challenges such as security of video content and high cost of infrastructure and streaming solution. The market also faces issues such as network connectivity and other related problems. However, the development of innovative solutions by key players will open new doors of opportunity in the market. The rising interest of big companies in video streaming and digital media will also help the market to grow. 

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