Latin America's media and entertainment market will grow 15.4% in 2026 to reach $62 billion (€55.4 billion), with online video accounting for $35 billion — more than half of total revenues — according to forecasts presented by Omdia at MIPCOM Cannes.

The research, unveiled by María Rúa Aguete, Omdia's Head of Media and Entertainment, positions the region as one of the fastest-growing media markets worldwide, outpacing the United States, where revenues of $476 billion are forecast to grow by 10.2%.

"Latin America is one of the most exciting growth opportunities in global media and entertainment," said Rúa Aguete. "The region is growing by 15.4 per cent this year, but what makes it particularly interesting is that television remains incredibly popular while streaming still has significant room to expand. The opportunity is enormous, but success will depend on affordability, connectivity, local content and partnerships."

How large is the streaming subscriber base?

Omdia forecasts that Latin America will reach 190.7 million online video subscriptions in 2026, rising to 208.7 million in 2027 and 243.5 million by 2031.

Netflix remains the region's largest streaming platform:

• 63.8 million subscriptions forecast for 2026
• growth to 73.7 million by 2031
• nearly half of the region's online video subscription revenues in 2026

Its advertising-supported tier is an important growth contributor, letting Netflix reach price-sensitive consumers while expanding its advertising business.

"Netflix has built an extraordinary position in Latin America," said Rúa Aguete. "It is not just about having the most subscribers. Netflix captures nearly half of streaming subscription revenues. Its advertising-supported plan is helping it reach new audiences while reinforcing its market leadership."

Why does connectivity matter more than demand?

The growth ceiling is infrastructure, not appetite. Television penetration across Latin America reached 91% in 2025, against just 35% for subscription streaming (SVoD) services. Broadband penetration stands at 53%, a structural barrier to further streaming adoption.

"Latin America does not have a television problem. It has a connectivity challenge," Rúa Aguete explained. "Television reaches 91 per cent of the region, but subscription streaming reaches only 35 per cent. The next phase of growth will depend on making streaming more accessible, affordable and relevant to consumers."

How does online video compare with other sectors?

The 2026 revenue breakdown underlines how quickly the entertainment economy is shifting to IP delivery:

• online video: $35 billion
• traditional television: $16 billion
• gaming: $5.9 billion
• music: $3 billion
• cinema: $1.8 billion

The gap between online video and linear TV — more than double — marks the commercial reality behind streaming platforms' expansion, while traditional broadcasters and telecom operators weigh where audiences and advertising money move next.

What drives the next phase of growth?

Omdia argues that companies must move beyond direct competition for subscribers. Advertising-supported subscriptions, partnerships with telecom operators, flexible pricing, local productions and improved content discovery will all shape the next stage of market development.

"Latin America is not simply a market where global platforms can replicate their strategies from the US or Europe," Rúa Aguete concluded. "Understanding local audiences, investing in relevant content and building the right partnerships will be critical. The future of streaming in Latin America is not just about competition. It is about collaboration and finding new ways to reach consumers."

With subscriptions set to climb from 190.7 million this year to 243.5 million by 2031, and broadband penetration still trailing TV reach by 38 percentage points, the pace of that growth will hinge on connectivity improvements and affordability across the region.