Looking to Reach Hispanic Audiences? Look no Further than Online Streaming
Maya Rector • May 28, 2020
These days, there’s no escaping online streaming. We’re all guilty of binge watching our favorite content on occasion … even if we don’t want to admit it. While there’s no doubt that online streaming is taking off across the general population, connected TV devices and online streaming are especially popular among U.S. Hispanic audiences. Wondering why that is and why you should reach these growing digital-first consumers? Read on for the full scoop.
What Counts as Online Streaming?
Although you may be familiar with the concept of online video streaming, you may be surprised to know that it encompasses a broad range of digital content. For instance, online streaming opportunities can range from streaming apps to YouTube, and other forms of online and mobile options.
Your business can reach viewers across ad-supported streaming devices such as Roku, Amazon Firestick, Smart TV devices, Playstation, and more, across streaming apps like Hulu, Amazon Video, Sling TV, Tubi, etc. There’s also YouTube streaming, which allows for YouTube ads - providing a convenient way for companies to engage with consumers as they watch YouTube videos. Aside from the fact that online video viewership is only going to continue to rise, it’s a great option for small and large businesses alike given that it enables specific targeting options to reach ideal prospective customers in your desired location. Because streaming can provide user data, ad campaigns can be optimized to target users by key data such age, location, household income, interests, keywords, etc.
Also growing in popularity is the rise of online Esports. From NBA stars making their debut, to everyday video gamers live streaming as they play online, ESports’ appeal lies in its accessibility for both professionals and at-home players alike. Sites like YouTube and Twitch have provided platforms for emerging gaming influencers to satisfy consumer demand for content - and the demand is definitely there - ESports audiences are predicted to surpass most major professional sports leagues by 2021, aside from the NFL.
Streaming Gets an Added Boost in the Midst of the Pandemic
Numbers were projected to reach 48% for US digital video viewers who will watch live content monthly this year, even before the pandemic. Since then, eMarketer has adjusted their report to 56% in February
thanks to accelerated viewership rates from stay-at-home audiences.
Marketing executives have been expecting the rise of digital streaming as well, with a Viant survey
of 500 marketing decision-makers at U.S. companies confirming a growing role for connected TV in January of 2020. Between 13% and 14% reported that the advent of new streaming options would result in more spending or increased testing for CTV advertising options for their clients. Despite decreased budgets as a result of the outbreak’s financial impacts, Advertiser Perception studies
tracked advertising trends during covid-19, finding that OTT/CTV is among the media platforms benefiting most when a new budget is added or reallocated. Social media is getting the most new dollars at 64%, however, OTT/CTV (43%) and digital video (44%) follow not too far behind.
In a Morning Consult
survey in April of 2020, 21% of all adults subscribed to a new streaming service since the pandemic began, with 32% of millennials and 29% of gen Z’ers leading the pack. Notably, Hispanics subscribed to another service more than any of the other groups surveyed, at a whopping rate of 32%. While streaming use across the general population is to be expected with digital transformation, people may be surprised to find out that Hispanics have been ahead of the curve when it comes to adopting online streaming services.
Why are Hispanics such Avid Streamers?
So, why exactly have Hispanics seen the most growth when it comes to streaming numbers? One compelling reason for high Hispanic adoption rates lies in their relatively young age when compared to other groups in the U.S. The U.S. Census Bureau has broken down the percentage of Latinos in each generational segment
as follows: Baby Boomers: 14%, Generation X: 19%, Millennials: 27%, Generation Z: 35%. According to these numbers, over half of Latinos - 62% to be exact - are under age 40. With younger age groups signaling higher digital media use and new tech adoption rates, it’s no surprise that digital mediums come naturally to Hispanics - making them an prime audience to keep a look out for both now and in the future.
Hispanics are also more likely to buy a product or service if a bargain is involved, despite their increased spending power in recent years. GlobalWebIndex found that 50%
of Hispanics identified bargains as a top purchase driver. Since CTV and online streaming services often eliminate the need for expensive cable bills, adopting these services can spell out major savings incentives for Hispanic audiences who are looking for the best deals to access their favorite entertainment.
The desire for diversity is a possible factor that could be playing another big role. The Horowitz State of Viewing & Streaming 2020 study
reported that 55% of all viewers who view programming on streaming services and linear television say outlets such as Netflix, Hulu and Disney Plus do a better job of telling stories about and by people of color than broadcast and cable. Of the ethnic groups surveyed, 61% of Hispanics said that streaming services are doing a better job of promoting diverse stories and images.
Adriana Waterston, Senior VP of Insights and Strategy at Horowitz, expressed that streaming services can offer many more content options than traditional TV services, along with being in a position to better promote content to multicultural audiences. With a growing number of proponents championing for better representation across TV, movies, and video content in general, nearly 70% of viewers said it’s important for the media to represent diverse people and communities within the United States to dispel stereotypes.
What Lies Ahead?
Digital video content viewership is through the roof, with a 60% increase
in the amount of content watched in the US in recent months. As if that wasn’t enough, the average adult logs into four streaming services, with 38% having access to five or more streaming services.
With subscription streaming services capitalizing on consumers staying at home and having more time on their hands, free trial rollouts will likely add to the skyrocketing rates of streaming adoption for consumers who may have previously been on the fence. While we don’t know when things will go back to “normal” and the hourly rates of content viewership may go down as stay at home orders subside, there’s no doubt that streaming is the future of content in an increasingly digital world.
Thanks to digital streaming’s ability to target specific audiences by key demographics, it’s no surprise that agencies are starting to lead with CTV and OTT advertising options to make major gains for both themselves and their clients. What does this mean for your business? Taking the numbers into account, it’s worth giving it a try to reach audiences where they’re spending significant amounts of their time - especially when it comes to Hispanics.
Curious to learn more about promoting your business across digital streaming to reach key audiences in your area? Feel free to contact us
or find a location
near you to learn more.
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