The Spain OTT Media Services
Market is anticipated to be driven by increase in broadband penetration and
increase in the domination and penetration of smart devices like smartphone and
smart TV which has accelerate the expansion of the OTT media services market during
the predicted period.
The transition of the
audio-visual consumption model is being led by OTT platforms. These platforms
are becoming more popular with audiences, which has effects on two different
levels. The existing television model is changing, and established players are losing
their hegemonic positions. In addition, OTT platforms like Netflix, HBO, Amazon
Prime, and Disney+ are competing with one another to dominate the subscription
industry. Facebook and Instagram are a component of the promotional strategy
used by all platforms in this race to try to attract potential users.
Due to the country's growing
number of OTT platform providers, there is now more competition among the
participants, which has an impact on the market's expansion. Where the gap
between the leader and its followers is narrower than ever, the streaming wars
are becoming more intense. According to the JustWatch, Netflix and Amazon Prime
Video were 4% apart in the second quarter of 2022, making it a very close race
for top spot in the streaming wars. Disney+ and HBO Max, who are vying for
third place, are only 2% apart.
Innovation Boosts the Market
The new launches and
platforms of streaming services have played a critical role in their rapid
adoption in Spain market and the overall growth of the sector. For example, The
Mediapro agency in Spain has launched Gol Mundial, a subscription OTT streaming
platform, in order to focus on its, “2022 FIFA World Cup rights”. Gol Mundial
will broadcast all 64 games from the upcoming national team tournament in
Qatar, including Spain's matches. To use the service, a single payment of USD 19.90
will be required; no extra services from any other operators are required. Over
the course of the forecast period, market expansion has been fueled by the OTT
platform's ongoing innovation.
While the Mediapro streaming
service will be widely available on mobile operating systems, smart TVs, and
web browsers, an Android TV decoder option is available for €79.99 (USD 80) for
the duration of the tournament.
Increasing Consumption of OTT
Platforms Boost the Market Growth
OTT platforms are growing,
and advertising spending is rising along with them. Spain is following the
international trend and leaders in video on demand as streaming keeps rising
and changing viewing habits throughout the world. The new television
viewing trends and their possible effects on the advertising market The most
recent information available supports a rapid rise in penetration and
consumption.. Pay television is available in far more than 10 million homes in
Spain, with Movistar+ and Netflix heading the list of services with the most
In terms of OTT platforms,
Netflix has the broadest audience, reaching 14.1 million users regardless of
whether they are customers. When analyzing the profiles of its users, it should
be noted that 21% of its audience is between the ages of 35 and 44, and 52%
users are women. A 33% presence of the platform is found in 6,172,000 houses.
They are followed by Amazon Prime Video (5,872,000 people, 14.3% of homes) and HBO
Spain (3,751,000 people and present in 9.4% of households
Popularity of VoD
(Video-on-Demand) Platforms Drive the Market Growth
The main reason for the rise
in popularity of video-on-demand platforms such as Netflix, Amazon Prime Video,
Disney+, is that users have instant access to original and high-quality content.
In 2021, more than half of Spanish households with internet access (55.1%) used
platforms like Netflix, and Amazon Prime. The number of streaming video
platform subscribers in Spain in 2021 is shown in this figure. Approximately
6.2 million customers paid for Netflix's services throughout the referenced
year. As increased number of subscribers has resulted in increased market
growth during the projected period.