Batanga, the media company rooted in Latin music and entertainment, has decided to throw all its chips into its digital platform, closing its print publications Batanga Latin Music and Latino University in the process.
As a result, the company will also eliminate 10 positions associated with the production of those magazines.
Recently, Batanga has focussed most of its efforts in developing its Online offering—purchasing Online ad network Hispanoclick in January—and on its Batanga Live events.
“Print, as we’ve seen this year, is not growing,” said a spokesperson for the company. “The business is such that we need to serve our investors and ourselves by focusing on what is viable. It wasn’t an easy decision for us, because we felt the magazines were doing a great job and we had passionate consumers behind them, but economically it just wasn’t viable, particularly with controlled circ. We didn’t have subscription or newsstand revenues coming in.”
“In terms of digital, business could always be stronger, but we’re comfortable that we’re well-positioned for the future. We believe that the Online ad medium is the best positioned to survive and thrive because of its demonstrable ROI strength and because of its low cost.”
He noted that current efforts are centered on maximizing the functionality and fun of the site. “For the last few years, we’ve been concentrating on growing our audience. Right now, we’re at a point where we can focus more on audience retention and make sure we’re providing our users with the best possible online experience.
With regard to Batanga Live, the spokesperson said “We still believe that the events business has potential for us. We’ve got some loyal sponsors who remain very interested in this arena.”
Related Article: Batanga Buys HispanoClick