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Online video is a format gaining increasing attention from marketers, with PricewaterhouseCoopers (PwC) predicting over 30% growth annually in spending worldwide through 2016—among the fastest growth rates for any digital format.
In October, comScore ranked the countries where online video viewing was reaching the top audiences and found that Argentina ranked first. Nearly all internet users in the country reported watching videos online.
comScore Video Metrix did a similar study in Latin America in June, and again Argentina ranked first in terms of video penetration, though the rate was lower, at 91.1%. Where Argentina trailed, however, was in the number of videos these viewers actually tuned in for. At 120.9 videos viewed that month, Argentina ranked last. Chile, on the other hand, nearly equaled Argentina in penetration—and ranked third in penetration worldwide in October—and ranked No. 1 for average videos watched. Viewers in Chile tuned in for over 40 more videos on average in June than viewers in Argentina.
So there’s no doubt that online video is big in Argentina, even if by some metrics other Latin American countries are even more enamored of the format. And for content providers hoping to convince viewers to pay for video, internet users in Argentina are more receptive than those in many other countries. In March, global management consulting firm Accenture found that 70% of viewers in Argentina said they would pay $5 or more for monthly on-demand content.
But while viewers in Argentina may be willing to pay, free Google sites like YouTube still ranked as the No. 1 place to watch videos. Viewers on those sites watched over 1 billion videos in August, according to comScore, for a total of 4.5 hours of viewing. VEVO came in next with just over half as many viewers, but only a fraction as many videos viewed.
Accenture also found that viewers in Argentina were disposed to watch online videos on comparatively older channels like a PC or laptop, or a TV without a set-top box.
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Check out today’s other articles, “Advertisers, Marketers Take on the Cross-Platform Measurement Challenge” and “The World's Most-Read Online Newspaper Changes the Rules.”
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