Home » Streaming Services in Latin America: What Do Consumers Want? Now We Know

Streaming Services in Latin America: What Do Consumers Want? Now We Know

by Tim

A recent study reveals Latin Americans streaming consumption habits. Find out what their favorite platforms are, in addition to the main concerns and demands that may challenge providers’ survival in the region.

The global streaming service industry is experiencing tremendous growth, driven by a surge in internet connectivity, affordable devices and a growing preference for on-demand content consumption. And Latin America is no exception.

Streaming content has clearly had incredible market penetration in the Latin American region: an impressive 98% of Latin Americans use streaming services. This large and diverse region represents a massive audience eager to consume this type of content.

The relevance of this region in the global streaming market is undeniable. But, what do Latin Americans have to say about streaming services? What do they want? What do they expect from the providers and what are the demands that may shape the future of service providers in the region?

We can get the answers to these questions thanks to the findings of a new study on streaming services in Latin America, conducted by the agency Sherlock Communications.

The Streaming Consumption Report 2024

The Streaming Consumption Report 2024 provides valuable and interesting insights into streaming habits, trends and demands among more than 3,000 consumers from six Latin American countries.

This report provides a clear overview of Latin American sentiment towards streaming services, uncovering some relevant challenges that may shape the future of these services in the region.

But what are Latin Americans’ favorite streaming services? How do they consume streaming content and what main concerns and demands do they have? Continue reading to find out.

Meet Latin Americans Favorites

What type of content do Latin Americans tend to go for? And, where exactly do they prefer to consume it? Let’s find out.

15% of Latin Americans listen to music on streaming, the second most popular type of content in the region. But, where exactly?  Their number-one choice is Spotify, beating YouTube with over half of the votes (53%) from survey respondents. YouTube, on the other hand, was chosen by 33% of Latin Americans. Amazon Music fell well short, however, with only 6% of respondents opting for its services.

So, what then is Latin America’s favorite type of content? Latin Americans prefer streaming series and movies over any other type of content. A majority of 58% expressed their preference for this type of content.

Within this category, Netflix retains the top spot with an overwhelming 82% of respondents using this platform. In fact, if Latin Americans could choose one platform to subscribe to, 59% would choose Netflix, whereas only 10% would choose HBO Max or Amazon Prime as their top choice.

Although the number of streaming service providers in the region is indeed numerous, Latin America’s preferences seem to be mostly focused on Netflix as the preferred option.

And although 43% of consumers in the region use Amazon Prime and Disney+, and 39% use HBO Max, these numbers could be negatively impacted by another finding revealed by this research: Latin Americans’ unsatisfied needs and demands may negatively impact streaming subscription habits.

Latin America: a Distracted Audience with Very Specific Demands and Concerns

We know what the main streaming services in Latin America are, but thanks to this insightful research, we now also know that these platforms face several challenges ahead that may threaten their success in the region.

Latin Americans have expressed their sentiment towards these services and the thing which concerns them the most: consumers in the region have financial concerns and demand for better content, while, at the same time, it has become trickier to get their attention.

Not an Easily-captivated Audience: Latin Americans do not Want to Waste Time

This increasingly distracted audience, a phenomenon that has consolidated over the last two years, is too busy to just devote time to consuming streaming services.

Instead, three out of four Latin Americans multitask while they consume content on streaming platforms, doing things like performing household duties, chatting with friends, commuting or even making love.

This can make it harder for streaming service providers in the region to captivate the attention of this increasingly distracted audience, highlighting the importance of having a good content offering that can successfully captivate consumers by addressing their needs and expectations.

The problem seems to be that when focusing on the content offered by streaming services it is also not satisfying Latin American consumers. For instance, the constant moving of content from one platform to another is annoying 56% of Latin Americans.

Yet still, the discomfort, as we’ll see below, goes way beyond changes in the content offering, further extending to more specific aspects such as the type of content offered and the type of approach used.

Streaming Content May not be Good Enough for Latin Americans

The streaming content offered by streaming service providers in the region is not sufficing the Latin American audience’s expectations. This could even threaten providers’ survival in the region: if the content they provide is not good enough, they face losing subscribers.

Why is this so? Latin Americans are not happy with stereotypes and call for more diversity.  An outstanding 68% of people in the region want to see more women playing “meaningful roles” and 67% would like to see black people, indigenous groups and other ethnicities represented with “more nuance and respect.”

The content representing the region does not seem to be representative either in the eyes of Latin American consumers either, with 69% indicating they focus too much on drugs, crime, violence and sexual stereotypes, a sentiment that’s stronger in Colombia (73%).

So there seems to be a growing discontent with the streaming content offered in the region. In fact, one quarter of Latin Americans think streaming platforms are lazy and offer repetitive and boring content. And this culturally curious audience also demands for more content from other parts of the world, a sentiment shared by three out of four Latin Americans.

This is a very clear expression of what Latin Americans want from streaming services. Providers’ response to these demands may be vital for their survival in a region where content offering was reported as one of the main reasons for unsubscribing from streaming services in the past year.

But it doesn’t stop here. Streaming services in Latin America face another further rising challenge: they may also need to review their subscription fees.

Streaming Services are Getting too Expensive: Latin Americans Want to Reduce Costs

Financial concerns are increasing among consumers in the region, and streaming service providers may be forced to respond accordingly in order to remain a relevant option for Latin American consumers, who are already resorting to different strategies to reduce costs.

The problem is, Latin Americans think it’s getting too expensive to have more than one streaming service. An overwhelming 62% of respondents expressed this sentiment, and one in four unsubscribed from streaming services in the last 12 months for this reason.

This is indeed the main reason for unsubscribing from streaming services, but it’s also further encouraging Latin American consumers to explore alternative ways of consuming streaming content while reducing the costs involved.

Despite the initiatives some platforms have implemented against the shared use of passwords, 46% of Latin Americans resort to this practice to keep costs down.

Another option that’s gaining popularity is the TV Box, a tool that turns a regular TV into a smart one. 28% of consumers in the region use a TV Box to access streaming content, which raises several questions surrounding the confusing legal space of this practice.

Streaming Consumption in Latin America: A Challenging Present and an Uncertain Future

The Streaming Consumption Report brings to the table a clear picture of the Latin American landscape, sharing the voice of Latin Americans’ expectations, needs, preferences and demands.

With industry giants like Netflix and Spotify consolidating themselves as the top choice for most Latin Americans, the present unfolds several challenges that forecast an uncertain future for providers of streaming services in Latin America.

An increasingly distracted audience not fully satisfied with the streaming content offered is being pressed by financial concerns, and is looking for alternatives. As varied as the offering can be, keeping current subscribers and attracting new ones will hinge greatly on providers’ ability to understand the scenario and respond accordingly.

One claim makes itself heard among the rest: high-quality, diverse content at a competitive price.

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