Brazil may be Netflix second-largest market outside the US, according to Bernstein

  • Bernstein analysts say that Brazil is the second-largest market for Netflix;
  • Netflix’s rivals like Disney Plus and HBO Max plan to enter Brazil soon.

Brazil now has more Netflix subscribers than pay-TV households. At least it is what analysts at the Wall Street firm Bernstein estimate, since Netflix does not disclose its number of subscribers per country. According to Bernstein estimative on Friday 28 report, the streaming platform has more than 17 million paying subscribers in Brazil as of June, reported Business Insider.

READ ALSO: Spotify to roll out virtual events feature, says TechCrunch

The report says that nearly June the Brazilian Netflix subscriber base surpassed the number of pay-TV households in the country. Netflix, the Bernstein analysts wrote, is winning in Brazil because it “provides a superior product at a quarter of the price of pay-TV.” 

READ ALSO: Disney says content from all its brands will be “exclusively” on Disney+, to launch in Latin America in November

Pay-TV subscriptions in the country were in a downward spiral and now Netflix’s milestone comes as other streaming services look to enter the market.

Disney Plus plans will reach Brazil in November, and HBO Max will get to the region in 2021. Analysts also estimate that Brazil is probably the second-largest market for Netflix outside of the US. Netflix had more than 60 million paying subscribers in the United States in October, according to Business Insider.

This post was last modified on August 28, 2020 8:22 pm

Published by

Recent Posts

Brazil’s XP launches a digital account with a debit card, real-time payments, and withdrawal

XP's digital account will be available to the investment platform's whole client base by October

June 20, 2022

Colombia’s first leftist leader Gustavo Petro targets inequality; investors on edge

The election of Gustavo Petro is indicative of widespread yearning for a more equal and…

June 20, 2022

After being acquired by Nubank, fintech Olivia will shut down operations

Artificial intelligence and financial planning startup Olivia will cease operations on July 15; Olivia's infrastructure…

June 17, 2022

Colombia’s Rappi to offer digital banking services via RappiPay

Rappi will offer deposit and savings products by the financial entity RappiPay, a joint venture…

June 17, 2022

Shopee announces layoffs in Latin American teams

Asian e-commerce phenomenon which has a strong presence in Brazil announced layoffs in Mexico, Argentina,…

June 17, 2022

South Korea’s Innospace to launch rocket from Brazil in December

Brazil is hoping to get a slice of the rapidly-growing small satellite launch market by…

June 17, 2022