Mexican Video & TV Entertainment Spend Set to Reach USD 4.5bn in 2014
Latest research from Futuresource Consulting that focuses on the Mexican Video & TV Entertainment market.
April 24, 2014 (Newswire.com) - Overall consumer spend on video and TV entertainment in Mexico grew by 9% in 2013 to reach USD$4.2 billion (54.5 billion pesos) and is forecast to reach USD$4.5 billion (58.8 billion pesos) in 2014, according to the latest research from Futuresource Consulting.
"2013 was an extremely strong year for Pay-TV in Mexico - growing by almost two million subscribers (+14%), with consumer spend reaching USD$2.9 billion and a further 10% growth expected in 2014," says Joanna Wright, Senior Market Analyst at Futuresource Consulting.
"This has been driven by an increase across all platforms, as digital cable grew by 790,000, satellite homes 630,000 and IPTV 60,000. Pay-TV is expected to reach 75% household penetration by 2018 in addition, box office admissions grew 6% in 2013, driving revenues up to USD$0.9 billion," says Wright.
The packaged video market remains significant in Mexico and has held up relatively well, but it is starting to suffer, with sell-through video witnessing its first double digit decline in 2013. However, Blu-ray is actually outperforming many markets with one of the strongest growth rates in 2013 (15%), making it the fifth largest market globally (6.5m units in 2013).
Digital video performed well in 2013, growing 91% to USD$86 million, with online video growing particularly well, more than doubling in size between 2012 and 2013. Looking forward to 2018, Futuresource forecasts that the total digital video spend will hit USD$360 million, driven largely by SVoD services but with increased awareness and availability of other services boosting all platforms.
"SVoD accounted for 66% of overall digital spend in 2013 and with 70% growth expected in 2014. Key drivers of this growth were the introduction of Netflix in 2011 and new entrants to the market in 2013 helping further raise awareness of the service. As the broadband infrastructure improves, SVoD services have the potential to generate significant consumer spend in Mexico," says Wright.
Broadband infrastructure has been applying some inertia to the market but it is improving with all major cities having access and broadband penetration reaching 52% in 2013. The New Infrastructure Program (2012-2018) was unveiled in summer 2013 and one of its top priorities is to improve broadband access and speeds which will be a key driver of digital video consumption moving forward.
This 33-page report provides detailed market data from 2011 with forecasts to 2018, covering the following key areas: Packaged Home Video, Pay-TV VoD, Online Video (EST, iVoD, SVoD), Subscription Pay-TV and Box Office. For more information please contact Andy Watson via email@example.com
Futuresource Consulting is a specialist research and knowledge-based consulting company, providing organisations with insight into consumer electronics, digital imaging, entertainment media, broadcast, storage media, education technology and IT. With a heritage stretching back to the 1980s, the company delivers in-depth analysis and forecasts on a global scale, advising on strategic positioning, market trends, competitive forces and technological developments. www.futuresource-consulting.com.
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