Germany’s ZDF Studios is launching a FAST channel in Latin America where regional growth of Free Ad-Supported Streaming TV (FAST) has now outpaced that of the U.S., according to the2023 Amagi Consumer Survey.
By partnering with Atlanta, Georgia-basedCastalia Communications, ZDF Studios will be developing a FAST service for the region, tapping its vast catalogue for a selection of drama programming that will be made available in Spanish.
Susanne Frank, director of drama at ZDF Studios, who negotiated the deal, said: “We are very excited about this opportunity to work with an established partner and expert in this subject matter to bring our great catalogue of programming to an interested audience in the Americas.”
“We are convinced that this way we will be able to open up completely new, interested target groups in the Spanish-speaking market,” she added.
Expressing his delight “to be working with one of Europe’s leading producers and distributors of television content” and bringing such popular titles as “Goethes and Schillers” to the region, Luis Torres-Bohl, founder and CEO of Castalia Communications, said: “We are confident that our groundbreaking media project will be very successful throughout Latin America and with Spanish-speaking audiences in the U.S.”
Latin America is one of the fastest growing markets for Free Ad-Supported Streaming TV (FAST) channels. A report by Global Industry Analysts Inc states that the market is expected to grow by over $217 billion by 2026.
Buoyed by technological advances in smartphones, tablets and mobile TV, consumption of streaming OTT services has skyrocketed during and after the pandemic.
Brazil reported a 94% increase in connected television penetration during the Q1 2022 to Q1 2023 period, while Mexico experienced 93% growth in the same time frame. Both countries, in particular, have exceeded uptake of FAST channels in the more mature U.S. market for the period, which is at 80.6%, according to the Amagi Quarterly Global FAST Report.
“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 toward FAST,” he added.
Furthermore, when faced with an economic decline, Brazilian (34%) and Mexican (43%) households were likely to end their TV subscriptions and transition to the free FAST (Brazil, 24%, and Mexico, 23%) channels, the report revealed.
