U.S. Hispanic consumers are more interested in new media technologies, engage more regularly in second screen experiences, and subscribe to more streaming services – 3.9 compared to 3.2 on average – than non-Hispanic U.S. consumers, according to a new study released by Altman Solon.
Altman Solon’s Hispanic Telecom & Media Study’s key findings include:
- Hispanic consumers subscribe to an average of 3.9 streaming services (including paid and free services), compared to 3.2 streaming services among the non-Hispanic population.
- 71% of Hispanic consumers are interested in trying one or more emerging media experiences compared to 61% of non-Hispanic consumers. The emerging media favored by Hispanic consumers include AR/VR and second screens.
- Hispanic consumers are more likely than non-Hispanic consumers (38% vs 29%) to make a purchase through shoppable TV, during a TV show using their mobile phone (by scanning a QR code) or Smart TV.
“U.S. Hispanic media consumers are generally more interested in emerging media experiences – such as AR/VR and shoppable TV – than U.S. consumers overall,” said Altman Solon Director Daniel Weinbaum. “The study also highlights the extent to which U.S. Hispanic demand for specific content genres is currently unmet. Across the board, there is ample opportunity for media players to create strategies which are more tailored to the evolving needs of Hispanic audiences – including innovative bundling – to activate and grow this market.”
Despite higher streaming subscription rates, 60% of Hispanic consumers say they are unsatisfied with the available content offerings. The study reveals that Hispanic consumers crave more content from their original home countries or the country of their family heritage, underscoring the need for content providers to become more nuanced in their approach to Hispanic audiences.
Altman Solon’s 2023 Hispanic Telecom & Media Study surveyed more than 400 Hispanic-identified consumers and small business owners in 2023. The firm will release further analysis from the study over the next few months.