A study carried out by Comscore revealed that CTV consumption reached more than 150 million viewers in the region
Connected TV (CTV) consumption has grown considerably in Latin America, reaching more than 150 million viewers, equivalent to 41% of the population in recent years.
The data were presented in the Comscore survey, carried out in collaboration with the IAB Argentina, Chile, Colombia, Mexico, Peru and Uruguay, which aims to reflect the development of CTV in the region. Another point presented by the survey is that the evolution of CTV will accelerate in the coming years due to the new opportunities that the market offers.
Looking ahead, based on the benefits achieved for brands with CTV advertising in other markets, it is anticipated that a similar level of maturity will be reached in Latin America. We believe that the evolution from media to CTV will be imminent, which is why we recommend that brands invest in this space as quickly as possible to accelerate their learning curve and get the best results for their business in the shortest possible time, said Ingrid Veronesi, Senior Director of Comscore for Brazil.
Behavior
According to the results obtained by Comscore, the behavior of Latin American consumers is of great relevance for the advertising industry and the countries with the highest growth in CTV consumption in the region are Brazil, Mexico and Argentina, with 97% of households in the region have at least one smart TV.
Furthermore, among CTV viewers, 96% of respondents said they watched videos on smart TV in the period between September and October, while 22% did so on other streaming devices and 18% used video game consoles.
Regarding the consumption of online videos, most users watched digital videos using smartphones (89%), computers (72%) or tablets (37%).
Formats
Regarding the content made available by CTVs, the study revealed that users are satisfied with the variety presented. In this sense, the most watched formats are movies (88%), TV series (84%), music (60%) and sports (58%).
Furthermore, 75% of respondents said they like it when streaming services offer series and movies from different nationalities.
In a deeper analysis of viewing habits, the survey pointed to two common behaviors among Latin Americans, namely marathon runners and multitaskers.
According to the analysis, 63% of respondents said they watch several episodes in a row and 18% prefer to focus on watching a single video, without doing other activities simultaneously.
Opportunities for brands
Among the main benefits of CTV, identified by the survey, for brands that wish to invest in this format are the possibility of accessing young audiences, specific segments and the ability to control the frequency of exposure to advertising, which allows for efficiencies in advertising spending.
The Comscore study revealed that 32% of people learn about a new product after seeing an ad, 31% look up the advertised product online, 24% discuss what they saw advertised, 19% talk about the ad with someone else, and 15% buy something they saw.
Another point identified by the Comscore analysis indicated that the relevance of advertising turns out to be a key concept for consumers, since 40% of respondents stated that they expect ads to be relevant to themselves and their interests, 34% think that ads should relate to the content they’re looking at, 28% said they should relate to things they’ve looked up or bought online, and 15% believe they shouldn’t relate to what they’re watching.
subscription models
Considering that Connected TV allows users to choose between watching paid content without ads (SVOD) or free programming with ads (AVOD), one of the biggest challenges that the main players face is identifying which option is preferred by users.
According to the Comsocore survey, 65% of respondents said they would rather pay than not have ads, and 35% feel comfortable watching advertising if it allows them access to free content.
