New Initiatives, Wealthy Floridians, a tantalizing audience for Latin-American and US Publishers
Wealthy individuals, many of them from Latin American countries, abound in the sunshine state. Both publishers and advertisers seem to be increasingly aware of this fact, as seen by the wide array of new publications targeting this particular demographic. LOFT>Miami, a sister publication of the English speaking lifestyle magazine LOFT, will be launched in June and will be written in English.
Gregorio Berliavksy, publisher of LOFT, tells Portadatm that LOFT>Miami will be the only version of LOFT to be written in English. “It will be launched in June and will circulate only in Miami. The rest of the circulation will continue in Spanish,” said Berliavsky. “The reason for this launch, is that Miami is growing rapidly and becoming a trendy city where the American and Latin American cultures merge.” Initially, 30,000 copies of LOFT Miami will be distributed in the city through newsstands and paid subscriptions to mostly an A,B demographic.
Berliavsky adds that “many of our mainstream American readers, and US Hispanics who prefer to read in English, have asked us to launch the magazine in English, and this is what we are doing.”
LOFT will continue to be published in Spanish for Latin America and the rest of the US. It has a circulation of 70,000 (20,000 for US Hispanic, 17,000 for Mexico, 14,000 for Colombia/Venezuela and Panama and 9,000 for Argentina/Chile) and a CPM for a full page color ad of US $78. Miami based Zoom Media Group, publisher of LOFT, LOFT Miami and Poder is backed by Bank of America, Citigroup, Latin Rim Investments and Vision Asset Management.
Zoom Media Group will certainly face competition when trying to attract high purchasing power Hispanics in Miami. Many other publications already target LOFT Miami's or an even more upscale demographic. Advertisers, particularly from the luxury goods and real estate sectors, are hot on this demographic. Estilos de Vida – The Lifestyle is a quarterly magazine published out of Miami, with a Latin American edition headquartered in Buenos Aires. Estilos de Vida tries to attract readers “through special reports and friendly insights with a very strong visual concept.” It is distributed through what the publisher calls “VIP mailing lists” throughout South Florida, and a focused regional circulation reaching key customer groups in other Hispanic Markets. Other distribution points are health spas, marinas, renowned hotels and restaurants.
The average annual household income of Estilos de Vida's US readers is US $130,000 and the average home value lies between US $250,000 and $750,000. The median age of readers is 34.8.
Ocean Drive (circulation 70,000) is another magazine that caters, at least partially, to high income Hispanics. It is a clear example of a successful magazine targeting an upscale demographic in Florida. Started in 1992, Ocean Drive Inc. launched a Spanish version, Ocean Drive en Español, two years ago as a joint venture with Estefan Enterprises. In May 2001, at the time of the launch, Jerry Powers, who co-publishes the magazine with Emilio Estefan Jr., said that it had become obvious that affluent, style-conscious Hispanic readers now demanded a magazine of their own.
Ocean Drive en Español, published 11 times a year, concentrates on fashion, nightlife, travel, arts, design and social events. The magazine profiles Latin celebrities and musicians. Ocean Drive en Español is distributed nationally and internationally through Curtis Circulation Company.
Recognizing Miami as an important destination for the upscale Mexican population, Editorial Televisa considered Ocean Drive an excellent addition to its portfolio when it decided to launch Ocean Drive-Mexico in partnership with Ocean Drive. The new, Mexican book joined the list of Ocean Drive's international ventures including Ocean Drive Venezuela, Ocean Drive Canada, Ocean Drive Las Vegas and Ocean Drive Australia. Each of these editions uses some of Ocean Drive's content, adds its own local pages and advertisers, and forks over 7 to 10 percent of revenues to Ocean Drive.
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