Findings from omnichannel sell-side advertising platform Magnite’s CTV in LATAM: The Future Forward report show that there is widespread adoption of connected TV (CTV) streaming platforms across Brazil, Argentina, and Mexico.
The study of over 4,000 consumers across the region’s largest markets – Brazil, Argentina, and Mexico – identifies how audiences are consuming TV and explores the opportunity for marketers seeking to connect with engaged audiences as the shift to CTV accelerates and consumer behaviour evolves.
Across the three markets, 91 per cent of respondents said they tune into streaming TV weekly. Mexico leads in this metric, with more than nine in ten (92 per cent) Mexican respondents reporting that they used a streaming service at least once a week. Brazilian respondents followed closely behind in weekly streaming consumption (91 per cent) followed by Argentinian respondents (81 per cent).
Demonstrating consumers’ preference for streaming, 85 per cent of viewers said they preferred streaming over broadcast TV, and 80 per cent would keep streaming over broadcast if they had to choose. In all three countries, respondents spent a majority of their time watching streaming TV over linear TV. In Mexico respondents spent 65 per cent of their TV viewing time on streaming. Brazilians and Argentinian respondents reported 63 per cent and 58 per cent of their TV viewing time was spent streaming, respectively.
“Although CTV advertising is still in its early stages in Latin America, the findings in our research study suggest there are huge opportunities to be uncovered in this newer format,” advises Rafael Pallarés, Head of LatAm at Magnite. “The clear preference for streaming over broadcast coupled with consumers’ receptivity towards ad-supported models should signal confidence in future growth of ad-supported CTV for both streaming publishers as well as advertisers.”
Viewers streaming content are far more attentive to programming than when watching broadcast shows, leading to higher engagement with advertising. The survey found that 79 per cent of respondents stated they were receptive to advertising on CTV and willing to watch ads in exchange for free or reduced-cost programming. Those surveyed also enjoy discovering new products from ads in streaming shows and will consider brand or product ads in their favourite shows, with 52 per cent taking an action, such as searching for the product online or buying the advertised product, after exposure.
Additional key findings from the study include: