BREAKING NEWS: .Fox Network leaves U.S. Hispanic Digital Market, Concentrates on Cable
.Fox Networks, the online division of FOX International Channels (owned by News Corp (Ticker NWS), one of the largest international online ad networks, has taken the decision to abandon its U.S. Hispanic online advertising representation effort.
Rafael Hernandez, who until the end of last week was working as Sales Director for the U.S. Hispanic unit out of Miami has left the company. An additional employee in Miami and another one in New York have also been dismissed.
Hernandez told Portada that Fox International Channels is going to put its main U.S. Hispanic sales effort in the cable channel Utilisima, a 24 hour signal created specially for women and enjoying great success throughout Latin America, which was introduced in the U.S. Hispanic market last year.
.Fox Networks Latin America’s operations, with its main offices in Miami, Buenos Aires, Aires Argentina and Guatemala, will continue to be working as usual . The unit is led by Hector Costa., SVP, and Managing Director at .Fox Network, and represents many online properties including Facebook and LinkedIn. The Latin American business also has a very strong cable operation. It represents 13 main targeted networks owned by Fox and also does sale representation for third parties.
.Fox Network decision to abandon the U.S. Hispanic market is relatively surprising as there are many new entrants who want to capture the high growth rate at a time when many offline ad budgets are going digital.
After Brazil, Spain and Mexico, the U.S. Hispanic online advertising market is the third largest in advertising volume (perhaps even tied with Mexico) and growing at a high rate.
Only last week we reported about the entry of Traffiq Latino in the U.S. Hispanic online advertising market. Yesterday AudienceScience announced that it acquired Consorte, a Hispanic online ad network and digital marketing company. This last transaction can also be seen as a way to integrate the Hispanic effort into a general market effort. (In addition, many sites that are reached by Latin American audiences are also visited by U.S. Hispanic consumers; this opens the opportunity for geotargeted online advertising. Obviously .Fox Networks has strong publishers relations in Latin America, which it could have continued to leverage for its U.S. Hispanic online advertising efforts.)
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