Market share of SVOD platforms in Mexico Q1 2024

Netflix continues to dominate the streaming landscape in Mexico, capturing 25 percent of the market share in early 2024. This leadership position underscores the company's strong foothold in Latin America's second-largest economy, where it has successfully navigated a competitive field of both international and regional players. The streaming giant's popularity in Mexico reflects broader trends in the region, where digital video consumption is rapidly growing.

Subscription growth fuels market expansion

The Mexican streaming market is experiencing significant growth, with approximately 23.5 million SVOD subscriptions recorded in the second quarter of 2023. Netflix led this expansion with 8.8 million subscribers, followed by Disney+ with 3.6 million users. This robust SVOD platforms’ subscriber base demonstrates the increasing appetite for streaming content among Mexican consumers and highlights the potential for further market development.

Content diversity drives engagement

Netflix's success in Mexico is partly attributed to its extensive content library. As of September 2023, the platform offered over 6,500 videos to Mexican viewers, with about two-thirds being films and the remainder series-related content. This diverse selection caters to various viewer preferences, helping Netflix maintain its competitive edge. Additionally, the company's investment in local content has paid off, as evidenced by the high consumption rates of newly released material across Latin America, with Brazil leading the region in viewing hours of 2023 content.