Monday, April 22, 2024

CULTURE | 30-12-2022 13:15

Streaming in Argentina booms: 2 in 3 already subscribers, consumption already surpasses radio

New study details how the online world of streaming is evolving among consumers in Argentina; Penetration of services is very high domestically, with many subscribing to several platforms simultaneously – top three are Netflix, Disney+ and Spotify.

The figures are extremely high and serve as a striking example of how a relatively recent cultural trend has been consolidated in Argentina: a survey conducted by the specialised consultancy firm Carrier y Asociados has found that 93 percent of Argentine Internet users consume audiovisual content through streaming services. According to the study, Netflix continues to be the most "popular" option domestically, cited by 84 percent of users.

But the research does not arrive on its own. Another paper that has just been presented points in the same direction and dives even deeper into some data: after analysing the daily habits of more than a thousand Argentines from all over the country, in a representative sample of geographies and social classes, “it was seen that today the penetration of streaming is very high: two out of every three Argentines are already subscribed to some service of this type and this massiveness is striking," Sebastián Corzo, Marketing Director of the Kantar Division Insights consultancy firm, told Perfil

"In addition, although 67 percent say they are subscribed to some service, this is accentuated if you 'open' it up by age, since among those [aged] under 35 the percentage of subscribers grows to 80 percent," adds Corzo pointedly.

According to the expert, this is a very high figure, even when compared to other mass media consumption indicators: streaming service take-up surpasses radio and is already close to the reaching the figures of free-to-air television, which, with all long history of free access, has a penetration rate of close to 90 percent. Streaming consumption in Argentina is also higher than in most countries in the region – only Brazil equals or exceeds domestic rates.

Another important detail highlighted by Corzo in his analysis is that the younger the users are, the more platforms they subscribe to. "If we look at how many companies Argentines follow on average, we get 2.8: in other words, they have regular access to three services more or less. But, again, when the age of the consumer is under 35, the average rises to 3.2 subscriptions per capita," he explained.

Age is also associated with another phenomenon: the younger the users, the more likely they are to share their name and password with friends and family. "When asked about this issue, in general, 54 percent of users said they shared their passwords. But when we break this indicator down by age, it starts to rise, and among millennials and centennials, 75 percent say they share their passwords, which is a complex issue for platforms in terms of customer loyalty,” said Corzo.



The survey had discovered another local consumption trend. "When asked about satisfaction levels with streaming services, we found that – in general – users are satisfied. Traditionally, this was a reassurance to companies that their customers would be 'loyal' and remain with them over time," said the consumer expert. 

However, on this particular issue, the rules of marketing do not seem to follow those of other mass consumption areas: ninety-five percent said they were very satisfied with the content on their platforms. But despite that figure, 47 percent of respondents – almost half – said they would be willing to change their subscriptions in the next six months. “It's a high [level of] volatility and it has to do with people moving on and off of services, sometimes for a particular series. Obviously, it also has to do with the cost of the subscription,” explained Corzo.

As is common knowledge, the Covid-19 pandemic led to more people spending much more time in front of screens consuming content and social media. Now that "normality" is slowly returning, are habits changing? For the experts, consumption of streaming services is gradually dropping, but the "floor" is now higher. 

"It doesn't seem to be possible to return globally to previous levels,” said Corzo. “And here's an interesting fact: when people are asked where they are going to cut their spending in order to cope with inflation, 'online entertainment' is one of the three areas where people choose not to cut back, along with education and food.”

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Enrique Garabetyan

Enrique Garabetyan

Redactor especializado en Ciencia, Salud & Tecnología.


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