I’m very happy to report that Vindicia has opened new offices in Asia and Latin America. The expansion reflects the growing popularity of Vindicia® CashBox® among global service providers, along with Vindicia’s commitment to providing on-the-ground support for our growing clientele. Regional offices also enhance our ability to understand local markets to acquire new customers.
To support our APAC client base, we opened an office in Singapore, helmed by Asia VP Michael Greco. By 2020, the APAC market for online video services is projected to grow from $4.7 billion in net revenues in 2014 to $12.4 billion in 2020. There couldn’t be a better time for Vindicia to demonstrate its commitment to the region.
In Latin America, we opened offices in Buenos Aires, Mexico City and São Paulo. Our very capable VP of Latin America and the Caribbean, Alejandro Couce, will oversee operations. Vindicia already has a sizable LatAm footprint, supplying subscription and billing services for a significant portion of local OTT and online service providers. According to global business intelligence firm Dataxis, Latin America revenue from over-the-top video on demand will reach $3.17 billion by 2018, with Brazil and Mexico leading at 35.3 percent and 34.6 percent of the region’s respective market share.
Meanwhile, CashBox is winning fans across the planet for its exceptional ability to drive customer acquisition and retention in the transaction economy. The platform offers total peace of mind on issues like compliance and ensures a frictionless, secure and confident experience for subscribers. Overall, our new offices bring Vindicia closer to its vision of driving the digital economy, one subscription at a time.
Please join me in celebrating our continued success.