Latin America’s pay TV subscriber base will stay steady at 61 million, although this is down from the peak of 73 million in 2017.

Brazil’s decline has bottomed out. Its pay TV total will remain at 12.5 million – or less than a fifth of TV households. Mexico has more pay TV subscribers than Brazil despite having many fewer TV households. Mexico has lost subscribers since its peak year of 2016 (21 million) but will settle at 17-18 million.

Simon Murray, Principal Analyst at Digital TV Research, said: “There is a shift away from satellite TV to IPTV, which also provides broadband access.”

Pay satellite TV will lose nearly 4 million subscribers between 2022 and 2028. There will be 11.5 million paying IPTV homes by 2028 – up from 7.9 million in 2022.