In 2024, Latin America reached a record with 163 million Smart TVs installed, and streaming is consolidating as the main form of audiovisual consumption. The rapid adoption of streaming devices and accessible screens means that, in just five years, 90% of households in the region will have access to digital content on their televisions. In 2024, there were 163 million SmarTVs in Latin America. This functionality was introduced to the market in 2010. The base of TV sets has grown at a very fast pace since Smart TVs comprised the totality of sales five years ago. Dataxis estimates that 80.5% of installed SmarTVs are connected to the network: almost 132 million units. Obsolescence is one of the factors explaining the difference between installed and connected Smart TVs. After a period of between 5 and 7 years, the devices stop receiving software updates, especially for applications. That is one of the windows of opportunity for streaming devices, an option that accumulated 15 million units. Korean companies Samsung and LG accounted for around 51% of connected Smart TVs in Latam, a position that was challenged by more than 50 brands. In a second block, Chinese manufacturers have been growing very fast: TCL, Hisense, and Phillips (TPV). Each Latam market has, in turn, its own competitive dynamics. In the largest countries, there are well-positioned local manufacturers/assemblers, and there are even massive retail channels that import and sell their brands of televisions. This atomization between companies with different profiles has allowed the growth of alternative operating systems to Tizen and WebOS, driven respectively by the leaders Samsung and LG. Thus, Android was already the second-largest option in Latam. Roku had also achieved good penetration through a wide network of alliances with local manufacturers and assemblers. Argentina, Brazil, Chile, Colombia, and Mexico accounted for 79% of connected TV sets in the region. Dataxis analyzed that by 2024, 63% of households in these countries were already equipped with at least one SmartTV or streaming device. Low-cost screens were accelerating the adoption of connected TVs, and it was expected that by 2029, 90% of households would be equipped with these devices. Although more than 50% of advertising investment in Latam is Digital, the Connected TV (CTV) advertising ecosystem is still in its infancy. While consumers have already switched to streaming, the transition for advertisers seems less straightforward. Among the challenges for the development of the option, the measurement of results, the higher cost per impression, and the interconnection with other digital options are often mentioned.
