Brazil and Mexico Outpace U.S. in CTV Adoption Rates, Amagi's Latest FAST Report Discovers

NEW YORK, Aug. 17, 2023 /PRNewswire/ -- Amagi, the global leader in cloud-based SaaS technology for broadcast and connected TV (CTV), has announced that the eighth edition of its Quarterly Global FAST Report revealed a remarkable surge in CTV adoption rates across Brazil and Mexico, indicating a 94% growth in CTV penetration in Brazil and a closely following 93% in Mexico from Q1 2022 to Q1 2023. Notably, both countries have outpaced the most mature Free Ad-supported Streaming TV (FAST) market globally, the U.S., which registered an 80.6% adoption rate. With affordability, accessibility, and a diverse range of content options driving adoption, the LATAM region is witnessing sustained growth in the FAST sector — making it an attractive investment opportunity for broadcasters and platforms.

The report compares a wealth of data from Q1 2022 to Q1 2023, providing an extensive overview of the rapidly evolving trends within the LATAM FAST market. Drawing insights from Amagi's proprietary data analytics platform, Amagi ANALYTICS, and the 2023 Amagi Consumer Survey, the report presents a comprehensive understanding of audience preferences and viewing behaviors across 50+ FAST platforms and approximately ~1800 LATAM channel deliveries that use Amagi THUNDERSTORM, our SSAI (Server Side Ad Insertion) platform  The survey encompassed approximately 800 households in Brazil and Mexico, representing diverse socio-economic backgrounds, with participants meeting the criterion of having watched TV at least once in the previous week.

Key Highlights from the Report:

1. Affordability and Accessibility Drive FAST Adoption: The primary factors contributing to the rising popularity of FAST in LATAM are affordability and better accessibility. A study by Magnite reveals that 71% of current pay TV customers in LATAM are willing to switch to ad-based streaming models, while Comscore and IAB Argentina report a massive surge in Connected TV (CTV) adoption rates, making FAST content more accessible to viewers.
2. Remarkable Growth in HOV and Ad Impressions: The report highlights significant YoY growth in ad impressions (150%), channel deliveries (45%), and Hours of Viewing (HOV) (7%) in the LATAM region. Notably, Peru (1,829%), Chile (948%), and Argentina (405%) lead in HOV growth, while Argentina (657%) and Peru (551%) dominate ad impressions.
3. Variety of Genres: LATAM audiences are showing a strong preference for a variety of content options. Music emerges as the favorite genre, experiencing an 88% increase in HOV and a 70% increase in channel deliveries.
4. CTV Adoption and FAST Progression: Brazil and Mexico exhibit high CTV adoption rates (94% and 93% respectively) compared to the mature U.S market (80.6%). Although SVOD remains popular, a steady increase in FAST adoption is observed in Brazil and Mexico.
5. Economic Downturn Strategies: When faced with an economic downturn, Brazilian and Mexican households prioritize giving up TV subscriptions (34-43%) but show a positive inclination towards transitioning to FAST (24% in Brazil, 23% in Mexico).
6. Preferred Genres: General entertainment channels top the list of favorite genres among Brazilian (47%), Mexican (53%), and U.S. (52%) audiences, surpassing thematic channels, show-specific channels, and specialized news, sports, or weather.

"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 towards FAST. Amagi is proud to be at the forefront of this transformation, empowering broadcasters and platforms to deliver captivating content to audiences across LATAM."

Amagi provides a complete suite of solutions for channel creation, distribution, and monetization. Amagi's global clients include ABS-CBN, AccuWeather, A+E Networks UK, beIN Sports, Cinedigm, Cox Media Group, Crackle Plus, Fremantle, Gannett, Gusto TV, NBCUniversal, PAC-12, Tastemade, and The Roku Channel among others.

The latest edition of the Amagi Quarterly Global FAST Report is available here. For more information about Amagi and its streaming TV solutions, visit www.amagi.com.

About Amagi

Amagi is a next-generation media technology company that provides cloud broadcast and targeted advertising solutions to broadcast TV and streaming TV platforms. Amagi enables content owners to launch, distribute and monetize live linear channels on Free Ad-supported Streaming TV and video services platforms. Amagi also offers 24x7 cloud-managed services bringing simplicity, advanced automation, and transparency to the entire broadcast operations. Overall, Amagi supports 700+ content brands, 800+ playout chains, and over 2100 channel deliveries on its platform in over 40 countries. Amagi has a presence in New York, Los Angeles, Toronto, London, Paris, Melbourne, Seoul, Singapore, and broadcast operations in New Delhi, and an innovation center in Bangalore.

Agency Contact:
Joseph Lesieutre
Wall Street Communications
Email: [email protected] 

Amagi Contact:
Sanjay Kirimanjeshwar
Vice President - Corporate Marketing
Email: sanjay@amagi.com 

SOURCE Amagi Media Labs Pvt. Ltd.