Spain study: Streamers using geo-targeted ads to boost revenue
April 17, 2026
From David Del Valle in Madrid
The study was led by José Antonio Cortés Quesada from International University of La Rioja, alongside Ainhoa García-Rivero, Beatriz Feijóo of Universidad Villanueva and Erika Fernández Gómez of Universidad of Vigo.
The research examined how Spain’s four leading streaming services – Netflix, Prime Video, Disney+ and HBO Max – integrate advertising into their subscription plans.
Researchers reviewed 920 advertisements and analysed 536 TV episodes, enabling them to identify advertising strategies, the brands most visible on each platform and how campaigns were segmented by genre, device and viewing habits.
The findings suggest streaming companies have managed to reproduce the business model of traditional linear television, while also benefiting from subscription revenue. Users who accept advertising are typically offered lower-cost plans.
According to the study, Prime Video carries the highest volume of advertising and interrupts programmes mid-episode with commercial breaks. It has also introduced an e-commerce feature linked to Amazon, allowing viewers to buy products directly through an on-screen window.
Netflix, meanwhile, stood out for the level of personalisation in its advertising, using viewers’ locations to tailor campaigns.
The researchers carried out the study from different parts of Spain and observed notable differences in adverts shown according to location, suggesting what they described as “hyper-personalisation”.
“By giving platforms all our data, they know what we like, what we watch and what we stop watching,” Cortés Quesada said, speaking to Spanish news agency EFE, adding that the industry is moving towards “increasingly personal and interactive advertising”.
The study also found that Netflix appears to reward binge-watchers with fewer adverts than viewers who watch one episode per day.
HBO Max was found to differ from rivals by showing only promotions for its own content, while Disney+ adopts a hybrid model.
Beauty products, perfumes, fashion items and supermarkets were among the most heavily advertised categories, particularly targeting female audiences on Netflix.
On Prime Video, users were more likely to see adverts for car insurance, technology, mortgage products and broadband services. Disney+ gravitated towards family-oriented products, including food items.
The report also examined user experiences, highlighting that mid-roll advertising — commercials inserted during content rather than before or after it — is common across all platforms except HBO Max. Researchers noted that such interruptions were often viewed negatively, particularly on Netflix where they were said to disrupt the flow of storytelling.