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 Speedbird snags BRL 35 million to boost its drones for delivery

Series A round was led by Bela Juju Ventures; Speedbird is the first company to…

May 27, 2022

A Brazil-based startup that fights food waste, Food to Save raises BRL 1.3 million in less than 24 hours

The funds were raised through the equity crowdfunding platform CapTable and attracted 211 investors. The…

May 26, 2022

Brazil’s plant-based food tech Future Farm has Anitta as new partner

The artist joined the company to use her influence to reach new consumers; the terms…

May 26, 2022

Mastercard shifts focus to Latin America and Southeast Asia

Southeast Asia and Latin America are strong growth regions for Mastercard after its withdrawal from…

May 26, 2022

Fintechs fail to make a dent in Mexico as cash remains king

Cash still drives 90% of transactions under 500 Mexican pesos ($25), as well as 78.7%…

May 26, 2022

LatAm unicorn Nuvemshop invests BRL 30 million in a new business unit in Brazil

Targeting growth-stage companies, Nuvemshop Next will offer exclusive services and strategies for customers with monthly…

May 25, 2022