Metro expands in Brazil by Launching a New Edition in Rio de Janeiro
Metro International S.A. ("Metro"), the international newspaper group, has announced that Metro expands in Brazil by launching a new edition in Rio de Janeiro. The Rio edition will have an initial distribution of 100,000 daily copies from Monday to Friday which will be hand delivered by distributors at strategic locations to reach the target audience.
Together with Bandeirantes, Metro's local partner, Metro initiated the Brazilian expansion in the Sao Paulo area last year, using the Sao Paulo operation as a hub to generate operating synergies. As the second largest market after Sao Paulo, Rio de Janeiro follows as the logical next step. Metro's total circulation in Brazil after the launch will amount to 330,000 daily copies, which makes Metro the widest circulated newspaper in Brazil Monday to Friday.
Greater Rio de Janeiro is a city of approximately 11 million people. It is widely known for its tourism and as a home to many national and international industries. Rio de Janeiro's local newspaper market represents 23 percent of the total Brazilian newspaper market. The total advertising market in Brazil is forecasted by WARC to grow by 9 percent in 2010 in real terms (Jul-2010), with growth further driven by the Football World Cup of 2014 and the Olympic Games of 2016.
Per Mikael Jensen, President and CEO Metro International, commented: "Metro continues its expansion in line with the strategy for growth in emerging markets. Brazil is one of the most attractive markets in Latin America, both in terms of its size and growth. The Sao Paolo operation has achieved great results from the beginning. Step by step we are increasing our opportunities to tap into the market for national sales in Brazil and increase our market share thereof."
Pablo Mazzei, EVP for Latin America Metro International, added: "We are very excited to continue our growth strategy in Brazil together with Bandeirantes, one of the leading television broadcasters, whose strengths are unique and complementary to ours. Timing is just right for Rio; one of the top 30 metropolis in the world, home to several major companies, the cultural capital of Latin America and centre of attention thanks to the biggest media events in the world coming up."
Trackback from your site.