Shifting customer preferences toward modern entertainment platform and rising OTT platform services are expected to drive the growth of the Brazil OTT media services market.
According to TechSci Research report, “Brazil OTT Media Services Market –By Region, Competition Forecast & Opportunities, 2018-2028F.” The Brazil OTT media services market is expected to grow owing to several factors such as introduction of OTT platforms and availability of regional content throughout the anticipated period.
The term OTT refers to internet-based content distribution platforms where users can watch videos on demand. Aside from Netflix, some examples include HBO Go, GloboPlay, Amazon Prime, PlayPlus, Record, etc. Video on demand (VoD) is an over-the-top (OTT) form of video that may be seen anytime. VoD services include transactional video on demand (TVoD), ad-based video on demand, and subscription video on demand (SVoD) (AVoD).
The surge in consumer demand for OTT media services has been largely attributed to the availability of ready-made content that consumers can watch on their smart TVs. Because of the significant shift in consumer social behavior, which is shifting away from traditional subscriptions and toward broadcasting services and over-the-top (OTT) on-demand video subscriptions every year, OTT streaming is expected to grow significantly during the forecast period. Consumer viewing habits are shifting due to streaming video services like Netflix, Amazon Plus, and Google Chromecast. Several players are collaborating to offer a better viewing experience with various features.
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Most of the popular OTT providers in Brazil have concentrated on building their own platforms, writing their own software, producing their own delivery systems, and running their own encoding farms. The product is an exclusive OTT offering for Brazilian viewers. It led to increase the market demand during the forecast period.
The rapid development of the market and the expansion of the infrastructure surrounding paid content have undoubtedly contributed to increased viewer interest. In addition to traditional direct subscriptions, they have been available in combined bundles that include pay TV and OTT, which has been appealing.
The growing use of smart devices, combined with high internet connectivity, is driving up demand for OTT platforms in the region. Furthermore, rapid growth in the media and entertainment industries has accelerated the production of high-quality media content, strengthening market growth of OTT media services platform. Additionally, rising demand for personalized content resulted in significant OTT device adoption rates. This allowed users to view a wide range of content. Furthermore, the availability of low-cost high-speed internet in emerging economies has resulted in a significant increase in the use of subscription services based on user convenience.
Furthermore, another factor that had a positive impact on the market was the COVID-19 outbreak, which had a significant impact on everyone’s daily routines and way of life. Home video consumption has reached previously unseen heights as a result of mandates for working from home and shelter-in-place, with video streaming providers such as Netflix and Amazon Prime Video reporting an increase in global viewing. The market’s scalability is expected to have increased as a result of a strong emphasis on online content delivery and the relaxation of COVID restrictions.
The Brazil OTT Media Services Market is segmented based on type, video quality, number of screens, region, and company.
Based on type, the market is further segmented into SVOD, AVOD, and TVOD. Among these segment SVOD is the fastest growing due to the availability of regional content and increase in broadband penetration, these factors increase the market growth.
Based on video quality, the Brazil OTT media services market is segmented into HD, Full HD, and Ultra HD. Based on number of screens, the market is further segmented into 1, 2-3, and more than 3. Based on the region the market is further segmented into North, Northeast, Central-West, Southeast, and South.
Key market players in the Brazil OTT media services market include:
- Netflix Inc.
- Amazon.com, Inc.
- Televisa, SA de CV (Blim),
- Alphabet Inc.
- The Walt Disney Company Limited
- Box Brazil Media Group,
- Globo Group
- HBO Digital Latin America, LLC
- Showtime Networks Inc.,
- Sony Pictures Entertainment Inc.
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“Two major factors that are anticipated to have a positive effect on market growth in the upcoming years are, the creation of new OTT platforms and the rapid evolution of OTT technology. A rise in subscription video-on-demand, the availability of different payment methods, increase in regional content, and improved internet infrastructure are few variables that are predicted to have an impact on market demand. Additionally, a growing number of OTT service providers are releasing new platforms with various features, which is fueling the market demand.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Brazil OTT Media Services Market, By Type (SVOD, AVOD, TVOD), By Video Quality (HD, Full HD, and Ultra HD), By Number of Screens (1, 2-3, more than 3), By Region, Competition Forecast and Opportunities, 2018-2028F”, has evaluated the future growth potential of Brazil OTT media services market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Brazil OTT media services market.
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