That’s according to the latest FOCUS Latino: The Media Landscape 2019 report, from Horowitz Research. The firm found that Latino millennials spend 34% of their streamed TV time with the service, amounting to three in every ten hours, on average. In contrast, Netflix’s share of streamed TV viewing among non-Hispanic millennials is 28%.

Amazon Prime Video and Hulu meanwhile each enjoy about 10% share of viewing amongst Hispanic millennials. The remaining 46% of streamed TV viewing is spent using services including YouTube, network sites and apps, TV provider sites and apps, and others.

In fact, four in ten Latino millennial viewers who have a TV (38%) say that, even when sitting down to watch TV in front of a TV set, Netflix is their first, go-to source, compared to 29% among Hispanic TV viewers overall and just 20% of total viewers.

Netflix’s ability to leverage a wide and deep variety of well-branded, familiar content from major studios, mainstream broadcast and cable networks, and Spanish-language networks like Telemundo— combined with its own selection of critically acclaimed original content — resonates particularly well with this group, Horowitz said.

“This audience has a wide variety of content interests and is linguistically and culturally fluid,” according to the report. “They seek quality content that reflects the diversity of their milieu and their lives.”

For example, about half (52%) of Latino millennials say they find it very relatable when TV shows and movies feature characters who are bilingual and/or who are bicultural, and 58% wish there were more TV shows and movies that feature bilingual and/or bicultural characters.

Seven in ten (73%) agree that Netflix is doing a good job offering content that appeals to people like them, higher than any other network or streaming service tested— suggesting that Netflix is filling an important void in the content landscape for this audience.

Moreover, three in four (75%) Latino millennials watch TV in Spanish at least occasionally, underscoring that resonating with Latino millennials is both an English and Spanish-language opportunity for networks and advertisers striving to reach the audience. Netflix seems to have gotten the message: Eight in ten Latino millennials who watch in-language content turn to Netflix at least occasionally for its Spanish-language content offerings.

Meanwhile, Netflix’s success in many ways catalysed the streaming revolution. But, even as streaming continues to replace live, linear viewing as the main way audiences consume TV content, the data from this study point to growing frustrations with aspects of the streaming experience for Latino and other millennials. About four in ten Latino millennial streamers feel that the “amount of content available today is overwhelming” and are finding it “harder and harder to find new shows to watch,” suggesting there is continued demand for managed entertainment services that offer the aggregated content discovery and browsing experience that cable and satellite providers offer, but in the streamed environment.

And, there remains a yearning for the days of ‘must-see TV.’ Four in ten (41%) Latino millennial streamers say they are finding it “more difficult now to talk about TV shows with other people” since people are watching on-demand, and half (53%) of Latino millennial streamers have at least one show they try to watch as close to airing as possible to be able to participate in the ‘buzz’ about the show.

Also in the Horowitz study, 45% of Latino millennial Netflix users- and over half (52%) of non-Hispanic millennial users- concurred that if major networks NBC, Fox, AMC, etc., pulled their content from Netflix, they would consider cancelling their subscription.

“As more media companies— like Disney Media Networks— launch their own streaming experiences and withhold their content from Netflix, it remains to be seen whether Netflix can continue to differentiate through its original content to retain Latino and other millennial audiences,” Horowitz pointed out.

“Netflix has transformed the media landscape for Latino millennial audiences by providing access to the innovative, culturally resonant, and differentiated content they crave—in English, in Spanish, and even bilingual— that many other mainstream media companies have been slow to lean into,” noted Adriana Waterston, SVP, Insights and Strategy, Horowitz. “Latino and other multicultural millennial audiences are undoubtedly the most valuable audiences for media companies today, and they have grown to love what Netflix has been providing them. It will be interesting to see what happens when other major media companies decide to commit to super-serving this audience. For many traditional players, this would require taking risks with their programming— like incorporating more bilingual dialogue or focusing on diverse heroes and storylines— that they have typically shied away from.”