(From our Q2 2012 Print Issue)
Less than a month ago, Buenos Aires, Argentina, based La Nación announced the purchase of a majority stake in Hispanic digital and print media company impreMedia. When Los Angeles headquartered impreMedia was first launched in 2003, would anyone have guessed that an Argentinean media company would end up buying it? Very few observers would have done so, if anyone. The deal reflects how technology, and as important, commonalities in language, culture and content are reducing geographical distance in the Latin world (U.S. Hispanic, Latin America and the Iberian Peninsula). Indeed, we live in an age of highly mobile labor and capital. This is what postmodern thinkers call the age of “time and space compression”.
Several factors are driving integration of the Latin advertising and media business. Technologies, such as the internet and bandwidth facilitate integration and convergence in consumer communication. But technology is by no means the only factor. It is content, including language, and context that link consumers and brands. Geographic borders become less important than culture, interests and beliefs. “Soy un americano de habla hispana” (“I am an American of Hispanic language”), Jose Marti (1853-1895) the Cuban writer, thinker and revolutionary who lived in New York for many years, said more than a century ago.
The La Nación – impreMedia deal brings these concepts down to the media and advertising business reality. There are synergies in content production, management and distribution. La Nación is a content powerhouse and could make some of its content available to impreMedia properties. Argentinean labor is skilled and its costs, while rising, are still significantly lower than in the U.S. The combination has particularly good prospects in the digital advertising realm. As we often say the beauty of interactive media in the Spanish-speaking world is that no matter where digital content is produced it can be targeted to anyone in a 450 million market of Spanish-speakers. The impreMedia Digital Network is among the ten most visited properties in the U.S. Hispanic market. Together with the U.S. Hispanic audience of GDA Digital (a group of major Latin American newspapers to which La Nación belongs), total U.S. Hispanic unique users climb to more than 2 million. This is a substantial audience to monetize.
Gabriel Dantur, Managing Director of La Nación Digital, and one of the main architects of the La Nación-impreMedia deal, will be one of the main speakers at our Latin American Advertising and Media Summit in Miami on June 6-7. The motto of our 2012 Summit is: “From Rio to Madrid via Los Angeles: Leveraging Technology to reach Latin Audiences”.
A major mission of Portada’s print, digital and conference vehicles is to foster the understanding of Latin Advertising, Media and Marketing as national borders dwindle.