Terra Networks Chile has just launched their online television service: Terra TV, which will feature over 90 international channels and 200 channels through a partnership with JumpTV.  In initial broadcasts, Terra TV showcased World Cup games, the Rio Carnival, and the Oscars.  Chile is the country with the highest internet penetration in Latin America, about 42.4% according to Internet World Stats, while the region as a whole is at about 19%.

At about the same time, YouTube has launched various localized websites, including Brazil (Portuguese) and Spain (Spanish) – I am not sure how this will fly in the LATAM region as the Spanish flag does not relate to any South or Central American country, but at least the interface is in Spanish.

Brazil’s internet penetration is at about 17%, but accounts for over 30 million internet users, making it the country with the most “surfers” in LATAM.  Interestingly enough, Brazil has also developed many of its own web 2.0 sites and applications, they have even created an interface for Second Life in Portuguese – Linden Dollars can be converted to Reals.

Back to video, Latin America is also one of the regions with the lowest broadband access, however, it also has the highest growth and from what we can tell with the various initiatives launched in the last weeks, watching videos online is becoming more and more common.