In its Latin America OTT TV and Video Forecasts report, the analyst calculates that revenues from OTT TV episodes and films for 19 Latin American countries will reach $4.60 billion in 2022, up from the $1.87 billion recorded in 2016. SVOD will remain the region’s largest OTT revenue source, contributing $2.86 billion by 2022, accounting for just over three-fifths of the total.

The data showed that pan-regional services such as Netflix, Amazon Prime Video, Claro Video, Blim, HBO, Crackle and Movistar Play are adding a competitive edge to the SVOD sector which Digital TV Research expects to total 32.54 million subscribers by 2022. This is nearly double the 17.08 million recorded at the end of 2016.

The top seven regional platforms are forecast to account for 88% of the region’s paying SVOD subscribers by the end of 2022, with Netflix remaining the largest pan-regional SVOD platform by some distance capturing half of the region’s total by 2022 with 16.324 million subs. “Claro Video and Movistar Play will have a relatively modest number of paying subscribers,” explained the report’s author and Digital TV Research principal analyst Simon Murray. “However, many more people will access these platforms for free as part of their mobile subscriptions. The same is true of HBO Go, where many homes can gain access to the online service for free as part of their pay-TV subscription.”

As an extent to how competitive the market will be, this 50% share of the market is down from a 64% share in 2016. Amazon is set be Netflix’s nearest competitor in 2022, growing from no market share at all in 2016 to 3.68 million subs. Brazil will account for 34% of the region’s SVOD subs by 2022, with Mexico bringing in a further 28%.