Spain Over The Top (OTT) Market Overview, 2028

Spain Over The Top (OTT) Market Overview, 2028

The Spanish Over-The-Top (OTT) market refers to the delivery of audio, video, and other media content over the internet without the need for a traditional cable or satellite TV subscription. The Spanish OTT market is growing, driven by increasing consumer demand for online content and the growth of high-speed internet infrastructure in the country. The Spanish OTT market is valued in the billions of euros and is expected to continue growing in the coming years due to increasing consumer demand for online content. The Spanish OTT market is dominated by international players such as Netflix, Amazon Prime Video, and Disney+. There are also local players like Flooxer and Atresplayer that offer Spanish-specific content. The trend towards online content consumption is expected to continue in Spain, as more people turn to OTT services for their entertainment needs. The growth of original content production and the rise of the country's middle class are expected to drive the growth of the Spanish OTT market. Spain has a high broadband penetration rate, which has facilitated the growth of the OTT market. The country's high-speed internet infrastructure makes it easier for people to access OTT content.

According to the research report, Spain over the Top (OTT) Market Overview, 2028, published by Bonafide Research, the market is anticipated to add USD 5.52 Billion by the end of 2028. Due to the increase in the number of digital video consumers, media and entertainment dominated the over-the-top market share and is expected to remain dominant during the forecast period. This will increase demand for OTT services in the media and entertainment industry. However, the communication industry is expected to grow at the fastest rate during the forecast period due to an increase in demand for over-the-top services in the telecommunications industry for video calling, voice, and messaging services. During the forecast period, SmartTVs and set-top boxes dominated the market share. The larger screen and easy switching options between cable and OTT platforms. Furthermore, as smartphone penetration increased, smartphones became the second most popular device for streaming OTT platforms. They are also inexpensive, allowing people of all income levels to use smartphones and streaming platforms. During the forecasted period, subscription VOD is expected to manage the market. This is primarily due to an increase in the number of subscribers using over-the-top (OTT) platforms. Furthermore, due to the high demand for advertising videos for product and service promotion, advertisement-based VOD is steadily increasing. The market is divided into personal and commercial user types. The market is expected to be driven by the personal user segment. The growing use of smartphones and tablets, as well as easily accessible internet, raises the market's perception of OTT services for personal entertainment and knowledge.

According to our Finding, In Spain, more than 50% of people watch music videos. Around 35% of people watch a comedy, meme, or viral video. Around 25% of people watch video livestreams. More than 20% of people watch educational videos. More than 20% of people watch sports highlights or clips. Around 20% of people watch Gaming Videos. More than 21% of people watch Influencer videos and vlogs. In Spain population ranging from16 to 64 years, the average amount of time that Spanish users spend each day includes around 6 hours on the internet, around 3 hours on television, more than 2 hours for social media, and more than 1 hour listening to music streaming services. In the Spain OTT market, some of the major reasons for the higher utilization of the internet by the age group of 16–64 include finding information, researching how to do things, finding new ideas and inspiration, staying in touch with friends and family, researching brands, education and study, watching videos, TV shows, and movies, listening to music, researching health issues and products, researching places, travelling, business networking, and many more.

Spain’s total population was 46.73 million in January 2022. In Spain, more than 40 million people use the internet. At the beginning of 2022, the internet penetration rate in Spain was greater than 94% of the total population. At the start of 2022, approximately 2.80 million people in Spain did not use the internet, implying that more than 6% of the population was offline. In January 2022, there will be approximately 40.70 million social media users. According to Meta's advertising resources, Facebook had approximately 20.20 million users in Spain in early 2022. According to Google's advertising resources, YouTube had approximately 40.70 million users in Spain in early 2022. According to Meta's advertising tools, Instagram had approximately 22.85 million users in Spain in early 2022. According to ByteDance's advertising resources, TikTok had approximately 13.73 million users aged 18 and up in Spain in early 2022.According to Meta's advertising resources, ads on Facebook Messenger reached approximately 9.25 million users in Spain in early 2022. According to LinkedIn's advertising resources, LinkedIn had approximately 14.00 million members in Spain in early 2022. According to Snap's advertising resources, Snapchat had approximately 3.60 million users in Spain in early 2022. According to Twitter's advertising resources, Twitter had approximately 8.75 million users in Spain in early 2022.

During the COVID -19 pandemic, film studios and content creators have been hit hard by cinema complex/hall closures. National producers are increasingly turning to OTT to deal with the situation. The prolonged lockdowns and the current state of the economy have thrown open the doors to the world of entertainment via OTT. People are wary of going to theatres to watch entertainment content, so OTT media platforms have grown in popularity. Netflix, for example, has stepped in to fill the void. To reach viewers, entertainment content producers are turning to OTT service providers. With so many OTT services available to users, it is difficult to attract and retain new subscribers. Customers typically receive free or discounted introductory offers. Subscribers can sign up for a free trial and then cancel when it expires; in the meantime, a lack of new content drives away subscribers and the complex user interface can cause customers to unsubscribe from the service.

Considered in this report
• Geography: Spain
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Spain Over The Top (OTT) market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type:
• AVOD (Advertising-based Video On Demand)
• SVOD (Subscription Video on Demand)
• TVOD (Transactional Video on Demand)
• Others

By Device Type:
• Smartphones and Tablets
• Desktops and Laptops
• Smart TVs & Set-Top Box
• Gaming Consoles & Streaming Devices

By Content Type:
• Video Streaming
• Game Streaming
• Audio Streaming
• Communication

By Service Verticals:
• Media and Entertainment
• Education and Learning
• Gaming
• Service Utilities

By User Type:
• Personal
• Commercial

By Component Type:
• Solution
• Services

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Over The Top (OTT) industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.