Oxxo bets on streaming for live performances in Mexico
Source：Mexico Business News - MBN
From：Taiwan Trade Center Mexico
OXXO kicked off the year by diversifying its business. The convenience store chain now has a new service called OXXO Live, a streaming platform through which people will be able to watch festivals, standup shows and exclusive live concerts. “(This is) an innovative live entertainment platform, where attendees will experience a series of 100% digital and interactive content designed to be enjoyed wherever they are. The possibilities are endless as we can have multiple entertainment events, all from one place,” the company notes on its website.
OXXO is not the first to bet on streaming. Due to the crisis brought by the COVID-19 pandemic, which had a tremendous impact on the entertainment industry, companies like Ocesa and Cinepolis launched their own streaming platforms last year.
According to the Mexican Association of Professionals from Exhibitions, Fairs and Conventions (AMPROFEC), 60% of the events have managed to migrate to streaming. However, attendance is at 30% of what it used to be on-site. But the industry will keep growing. By 2025, the number of users is expected to reach 1.418 billion in the video streaming (SVoD) segment, according to Statista.