Amagi: connected TV and FAST adoption exploding in Latin America

Connected TV adoption is exploding in Latin America – notably in Brazil and Mexico – with an accompanying surge of interest in FAST, according to technology outfit Amagi’s latest Quarterly Global FAST Report.

The FAST Report revealed a surge in CTV adoption rates across Brazil and Mexico, with 94% growth in CTV penetration in Brazil and 93%  growth in Mexico from Q1 2022 to Q1 2023.

According to Amagi, the two countries have outpaced the most mature FAST market globally, the US, which registered an 80.6% adoption rate.

The primary factors contributing to the rising popularity of FAST in LATAM are affordability and better accessibility, according to Amagi, citing a study by Magnite that found that 71% of current pay TV customers in the region are willing to switch to ad-based streaming models. Comscore and IAB Argentina also report a surge in Connected TV (CTV) adoption rates.

Brazil and Mexico have exhibited high CTV adoption rates (94% and 93% respectively) compared to the mature US market (80.6%). The report found that although SVOD remains popular, a steady increase in FAST adoption is observed in Brazil and Mexico.

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), according to Amagi.

“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.”