Spain OTT Media Services Market is Fueled by SVOD Media Services During the Forecast Period
Increasing numbers of OTT platforms and the usage of OTT
platform are expected to drive the growth of the Spain OTT media services
market.
According
to TechSci Research report, “Spain OTT
Media Services Market –By
Region, Competition Forecast & Opportunities, 2018-2028F”, The Spain OTT Media Services Market is expected to grow
during the forecast period owing to several factors such as by shifting
consumer towards streaming services from paid TV and increasing varieties of
content with new information.
OTT
(over-the-top) is a method of providing television and film content over the
internet at the consumer's request and to meet their specific needs. The term
"over-the-top" refers to a content provider that goes above and
beyond existing internet services.
Over-the-top
(OTT) service growth is primarily being fueled by rising broadband penetration,
smart device use, and ease of use to provide a flawless consumer experience.
High speed broadband internet access contributed to an increase in internet
users and their usage of over-the-top content like video, music streaming, and VoIP
(Voice over Internet Protocol). However, the growth of the industry is being
accelerated by the popularity of smart devices like TV sticks and smart TVs.
The
way that consumers watch videos and consumer television material has
transformed as a result of changes in viewership patterns. The shift from
traditional TV viewing to online consumption is a key factor in the expansion
of over-the-top (OTT) companies. As SVOD (Subscription video-on-demand) gives
users an access to a huge library of shows for a set of monthly charge that are
not included in pay-tv packages. SVOD
streaming services such as Netflix, Amazon Prime Video, Hulu, HBO, and Disney+
have grown in popularity as users have unlimited access to original,
high-quality content while on the go.
The
introduction of video-on-demand (VoD) services has been mainly attributed for
the enormous popularity of OTT in Spain. In order to deliver content directly
to viewers, OTT platforms ignore traditional distribution channels and media
networks. As a result, the market has grown. Other factors include increasing
OTT platform demand, rapid adoption, and popularity. In addition to mobile
media streaming, OTT networks offer additional services. The ability to use
low-cost ad-free streaming services and download videos in a variety of
languages for offline viewing on one's devices is expected to boost market
growth.
The
growing popularity of OTT can be attributed to the limited genre options,
flexibility, increased device availability, internet penetration, and overall
lower costs. Furthermore, rising demand for customized content resulted in
significant OTT device adoption rates leads to market growth. This give users
the freedom to view a variety of content. Additionally, the availability of
affordable rate and high-speed internet in emerging economies has resulted in a
massive increase in the adoption of subscription services based on user
convenience.
Similarly,
when looking at the population that travels for vacation, it is worth noting
that Netflix customers (35%), Movistar+ (20%), and Prime Videos (19%) are the
ones who watch this type of content the most while abroad. When it comes to
people who vacation in Spain, Netflix has 42%, followed by Disney+ (35%), and
Movistar+ (32%)..
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The
Spain 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. Amongst the
segments, SVOD (Subscription Video on Demand) is fastest growing due to the
rising number of subscription services and the availability of regional content,
these factors increase the market growth.
Based
on video quality, the Spain 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
Spain; Madrid, Extremadura & Castilla; Aragon & Catalonia; Andalusia,
Murcia & Valencia; Portugal.
Key market players in the Spain OTT media services market
include:
- Netflix
Inc.
- Amazon.com,
Inc.
- Apple,
Inc.
- Alphabet
Inc.
- The
Walt Disney Company Limited
- Rakuten TV Europe, S.L.U
- Setplex
LLC
- Atresmedia Group
- Viacom
International Media Networks España, S.L.U.,
- MEDIASET
ESPAÑA GROUP
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“The
development of new OTT platform and rapid advancements in OTT technology are
two key trends that are expected to have a positive impact on market growth in
the coming years. Market demand is expected to be influenced by factors such as
rising regional content and increasing internet infrastructure. Furthermore, increasing
number of OTT service provider are launching new content on their platform which
is driving market demand.," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Spain OTT Media Services Market, By Type (SVOD,
AVOD, and 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 Spain 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 Spain OTT media services market.
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