Portada Quick Hits: The Revenge of the General Market Agency, Hispanic Mobile TV?
» It seems general market U.S. Advertising Agencies are suddenly trying to catch up and realizing the business value of the Hispanic advertising and media markets. Havas Worldwide is hiring Mauricio Galvan, one of the U.S. Hispanic market's leading creative directors, and Lapiz senior executive Leo Olper to build a new Hispanic offering for Havas agencies, incorporating a former Euro RSCG Latino unit that only has a few staffers left, Advertising Age, reports. Havas, which owns MPG, is pushing both its U.S. Hispanic and Latin American capabilities. Only two weeks ago Home Depot assigned its Hispanic account away from The Vidal Partnership to Dallas based Richards Agency. In fact, to a not yet well known Hispanic unit of Richards called Richards/Lerma.Wendy’s will reassign its Hispanic business to the Vidal Partnership or choose another agency (maybe also general market agency ? J or rather L ?) The move brought a big reaction by both advocates and opponents of Hispanic Advertising Agencies as the exclusive way for Corporate America to cater to the growing Hispanic demographic. In this context, a widely expected decision is whether
» The mobile platform is hot to say the least. Paidcontent reports that a dozen national broadcasters have aligned to create a Mobile TV network. The coalition, which is called the Open Mobile Coalition, includes broadcasters like Belo, Cox Media Group, Fox, Gannett, Media General, Meredith, NBC and Newsweek. “The plan is to pool spectrum together from Fox, NBC & Telemundo and ION to be able to reach about 150 million U.S. consumers. It requires commitments for content, marketing and capital”, the Paidcontent articles states. Most of these broadcasters have both Hispanic content and Hispanic distribution networks. It will be interesting to see what plans the coalition has regarding targeting Hispanic audiences through mobile TV. Stay tuned on a future Portada article about this.
» Advent International just closed its fifth Latin American private equity fund with $1.65 billion in capital commitments. The sizable amount of funds Advent has available to invest is a vote of confidence in the future of the Latin American economies and, therefore, its advertising and media markets. A typical investment would be between $50 million and $200 million of equity into companies with enterprise values of between $50 million and $750 million. The firm has a Latin America devoted private equity team, comprising 33 investment professionals and 46 employees overall, working out of three long-established offices in Sao Paulo, Mexico City and Buenos Aires.
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