Viewers today have an insatiable appetite for content. With the higher demand for content and increased pressure on studios and streaming providers to make a profit, entertainment companies are looking for cost-effective solutions to both meet consumer demand and generate revenue. 

The rise and sustained popularity of internationally sourced content with English-speaking audiences such as with the 2021 hit title “Squid Game” on Netflix, marked a significant shift for the industry and for viewers. This follows other popular locally produced but culturally influenced shows such as “Narcos” and continues with shows such as “Shogun” which remain extremely popular among US audiences. 

Increased accessibility of international content means more content is available for viewer consumption, catering to the growing demand for diverse programming. This also opens up opportunities for international audiences and those interested in exploring content from different cultures. 

One demographic that offers significant opportunities in terms of demand, and one that entertainment companies are beginning to pay more attention to, is the Hispanic/Latino population in the United States (US). 

According to the 2020 US Census, 18.7%  of the United States identifies as Hispanic or Latino. Additionally, 13.3%  of households in the United States speak Spanish at home and 22% generally speak a language other than English. 

Parks Associates data also finds that Hispanic/Latino households are streaming enthusiasts. As of Q1 2024, 96% of Hispanic households subscribe to at least one streaming service, compared to 88% of all US internet households. Hispanic/Latino households also subscribe to an average of 6.4 SVOD services, compared to all US internet households, who subscribe to an average of 4.8 services. Consequently, these households also spend more money on SVOD services as well – on average, Hispanic households spend almost $76 a month versus the average household spending of $56. 

Some factors that may contribute to this discrepancy: 

• Culturally Diverse Content: More streaming services are offering culturally diverse content, including Spanish-language programming. For example, Netflix and Hulu offer telenovelas, movies and shows from Latin America and Spain. Additionally, vMVPD services such as fubo and Sling TV offer dedicated add-on packages with Spanish-language channels. 
• Larger Family Sizes: Hispanic/Latino households tend to have larger family sizes, making streaming more economical than visiting a movie theater or engaging in other entertainment activities that require purchasing individual tickets for each family member.
• Convenience and Family Time: Streaming entertainment also keeps family members at home, allowing parents to cook family meals and more easily monitor their children.  

Companies like Comcast and Charter have recognized this opportunity in the market and have recently debuted Spanish-language streaming packages, expanding into this worthwhile market. Charter and TelevisaUnivision have introduced a free version of ViX Premium with ads, aimed at enhancing viewer experience with a diverse content lineup. Concurrently, Comcast launched Now TV Latino, a $10 per month Spanish-language streaming package featuring over 25 live channels, movies, sports, and novellas.

By providing culturally relevant programming at an accessible price point, and to an audience that is already primed for media consumption, Charter and Comcast are well positioned to enhance customer loyalty and satisfaction. This could lead to higher retention rates and higher net promoter scores among Spanish-speaking communities. Additionally, this approach helps these two companies differentiate themselves in a market saturated with generalist streaming services, providing them a competitive edge.

Read more about this story and more market-altering entertainment news in the July update of the North American Streaming Video Tracker.