NEW YORK CITY—Brazil and Mexico experienced significant growth in the penetration of connected television (CTV) from Q1 2022 to Q1 2023, according to findings from the eighth edition of Amagi’s “Quarterly Global FAST Report.”
Brazil saw a 94% increase in CTV penetration during the period, while Mexico experienced 93% growth. Both countries have exceeded uptake of FAST channels in the more mature U.S. CTV market for the period, which stood at 80.6%, the report said.
Comparing data from the first quarter of 2022 to the same quarter in 2023, the report offers an in-depth overview of the rapidly evolving trends in the Latin American (LATAM) FAST market. Drawing on Amagi’s proprietary data analytics platform, Amagi ANALYTICS, and the 2023 Amagi Consumer Survey, the report lays out audience preferences and viewing habits across more than 50 FAST platforms and about 1,800 LATAM channel deliveries using the Amagi THUNDERSTORM server-side ad insertion platform. The Brazil and Mexio findings are based on about 800 households of various socio-economic backgrounds. Participants had watched TV at least once in the prior week, the company said.
Other key findings regarding the LATAM market, include:
- 71% of existing pay-TV customers are open to switching to ad-based streaming services.
- 150% year-over-year growth in ad perceptions, 45% increase in channel deliveries and 7% climb in hours of viewing (HOV).
- Peru saw 1,829% HOV growth; Chile, 948%; and Argentina, 405%.
- Argentina experienced 657% ad impression growth, and Peru, 551%.
- While subscription VOD (SVOD) remains strong in Brazil and Mexico, uptake of FAST is steadily increasing.
- When faced with an economic downturn, Brazilian (34%) and Mexican (43%) households prioritize giving up TV subscriptions but are inclined to transition to FAST (Brazil, 24%, and Mexico, 23%).
"Latin America is experiencing a remarkable transformation in its media landscape, with FAST leading the charge. As affordability and accessibility become key drivers, Brazil and Mexico emerge as vibrant hubs for FAST adoption," said Baskar Subramanian, CEO and co-founder of Amagi. "The data speaks volumes, showcasing the rising influence of CTVs, diverse genre preferences, and a steady progression toward FAST.”
The latest edition of the report is available online.
