Market Insight

Filmin Latino launches in Mexico

August 07, 2015  | Subscribers Only

Laura Aguilera Laura Aguilera Senior Research Analyst, Service Providers & Platforms

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Spanish OTT service provider Filmin and the Mexican Film Institute (IMCINE) have launched Filmin Latino, an OTT video-on-demand service, in Mexico. The new service includes a catalog of more than 600 films from Mexico and other Ibero-American countries. That number is expected to rise to 800 by year’s end.

Titles can be viewed via  a monthly subscription that costs $3.10 for the first month and $4.70 thereafter, or via on-demand rental that costs MXN $19 ($1.20) for 48 hours. In addition, recent documentaries produced by IMCINE, proprietary short films, along with 100 films from the 1970s and 1980s are available to view for free.

The service can be accessed online within Mexico via PC and Mac and will soon be available on iOS, Android and smart TVs. 

Our analysis

For Filmin, Filmin Latino marks the company’s first foray into international territory. The launch in Mexico comes less than a year after Filmin secured capital investment from Metropolitan Filmexport and Le Meilleur du Cinéma, which combined have obtained a 35% stake in Filmin . This investment has enabled the Spanish VOD service to increase its investment  in high end technology and marketing, and expand internationally in a drive to secure its position as a leader of independent Spanish cinema distribution.

IMCINE plans to use Filmin Latino to distribute high-quality local and independent films in a country where local films have limited distribution options and are often muted by Hollywood blockbusters. IHS Cinema Intelligence service data indicates that in 2014 not a single Mexican film earned a spot in the country’s top ten box office grossing films. Furthermore, data shows that films from the USA accounted for 87% of box office revenue in Mexico, whist Mexican films accounted for just 10% in 2014. IMCINE is also reportedly working with the two largest theatre chains in Mexico - Cinepolis and Cinemex, searching for new methods of sparking interest in Mexican films.  Between them, Cinepolis and Cinemex account for 90% of Mexico’s cinema screens.

 

Geography
Latin America Mexico
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