Report Description

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 Growth

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 popular subscribers.

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.