Magnite Research Finds 91% of TV Viewers in LATAM Watch Streaming TV Weekly

Rhea-AI Summary

Magnite has released its report "CTV in LATAM: The Future Forward", analyzing over 4,000 consumers across Brazil, Argentina, and Mexico regarding connected TV (CTV) adoption. The findings indicate that 91% of respondents watch streaming TV weekly, with Mexico leading at 92%. A significant 85% prefer streaming over broadcast, and 79% are receptive to CTV advertising. Consumers are willing to pay more than their current subscriptions, with most expressing interest in free, ad-supported services. This study highlights the growing trend of CTV and the potential for marketers in Latin America.

Positive

• 91% of consumers in Brazil, Argentina, and Mexico watch streaming TV weekly.
• 85% of viewers prefer streaming over broadcast TV, indicating a strong shift in consumer behavior.
• 79% of respondents are open to CTV advertising, suggesting a receptive audience for marketers.
• Consumers are willing to pay more for streaming services than their current spending, pointing to growth potential.

Negative

• None.

Magnite’s “CTV in LATAM: The Future Forward” study explores the evolving consumer attitudes and consumption trends around connected TV across Latin America

SÃO PAULO, Brazil, April 20, 2021 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI), the world’s largest independent omnichannel sell-side advertising platform, released its “CTV in LATAM: The Future Forward” report. 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 behavior evolves.

CTV rivals the reach of broadcast

The results of the study show that there is widespread adoption of CTV streaming platforms across Brazil, Argentina, and Mexico. Across the three markets, 91% of respondents said they tune into streaming TV weekly. Mexico leads in this metric, with more than nine in ten (92%) Mexican respondents reporting that they used a streaming service at least once a week. Brazilian respondents followed closely behind in weekly streaming consumption (91%) followed by Argentinian respondents (81%).

Demonstrating consumers’ preference for streaming, 85% of viewers said they preferred streaming over broadcast TV, and 80% 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% of their TV viewing time on streaming. Brazilians and Argentinian respondents reported 63% and 58% 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,” said 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.”

Streaming audiences are more engaged and open to advertising

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% 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 favorite shows, with 52% taking an action, such as searching for the product online or buying the advertised product, after exposure.

Additional key findings from the study include:

• In all three countries, the amount that people are willing to pay for streaming TV is still greater than the amount they are currently paying, indicating there is room to layer on additional services. In Argentina, the average consumers pay is US$6 per month, while the maximum amount they are willing to pay is US$10. In Brazil, the average amount paid is US$15 per month, while the maximum is US$20; and in Mexico, consumers spend an average of US$18 per month, but are willing to spend up to US$26. A majority (71%) of consumers stated that they plan to subscribe to another service.
• While LATAM consumers have not yet reached their subscription limits, they still want to maximize access to streaming content within their budget. A majority of respondents (74%) would prefer to watch free or reduced cost ad-supported content and 83% said they wish there were more free streaming video services.
• Among those who prefer to view internationally produced content, 80% report a desire to learn about different cultures, and 62% want to improve their foreign language skills. Across the region, international content is watched more than locally produced content, but 60% of respondents said they want more locally produced content.
  

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Methodology

Magnite’s “CTV in LATAM: The Future Forward” study was conducted by Harris Interactive using an online survey. A total sample of 4,000 consumers aged between 18-64 with internet access were surveyed across three major LATAM markets, including Brazil (1,648), Argentina (1,125), and Mexico (1,276) in January 2021 to deliver nationally representative insights.

About Magnite

We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats—including desktop, mobile, audio and CTV. And the world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in sunny Los Angeles, bustling New York City, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM and APAC.

Contacts
Kar Yi Lim
917-658-1994
klim@magnite.com

FAQ

What does the report "CTV in LATAM: The Future Forward" by Magnite reveal?

The report reveals widespread adoption of connected TV (CTV) in LATAM, with 91% of consumers watching streaming TV weekly and a strong preference for streaming over traditional broadcast.

What percentage of consumers in Mexico watch streaming TV weekly according to Magnite's report?

According to the report, 92% of Mexican respondents watch streaming TV at least once a week.

How receptive are consumers to advertising on CTV in Latin America?

The study found that 79% of respondents are receptive to advertising on CTV and are willing to watch ads for free or reduced-cost programming.

Are consumers in LATAM willing to pay more for streaming services?

Yes, the report indicates that consumers are willing to pay more than their current subscriptions, showing demand for additional services.

What is the significance of the findings from Magnite's CTV study for advertisers?

The findings suggest significant opportunities for advertisers in LATAM as consumers prefer streaming and are open to advertising, indicating a growing market for ad-supported CTV.