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.

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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.” 

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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.