The panregional media and advertising market has a new player and a new media type. Union Radio, majority owned by Spain’s media conglomerate Prisa, just launched its panregional radio sales effort.
Union Radio is the leading Spanish radio network in the world. Focused on news, music, entertainment and sport, it evolves around five business areas: Radio, Music, Television, Digital Channels and Brand Development. It currently operates in 10 countries (Argentina, Colombia, Costa Rica, Chile, Spain, Mexico, Panama, Ecuador, Guatemala and the U.S.) .It reaches 26 million listeners and generates 21 million unique visits to its websites each month.
A new Category
Advertising sales into cable, print and digital media properties historically have been the bread and butter of the panregional media market. “Panregional” is defined as advertising sales into two or more Latin American countries.
While Miami based media placement firms have purchased some radio capsules into Caribbean and South America radio programs for U.S. based clients, as a panregional media category, radio has been almost absent.
However, a concerted radio sales effort (like Grupo Diarios Americas Latin American newspaper representation or the different cable networks ad sales operations in Miami) did not exist until yesterday’s presentation by Union Radio.
According to Luigi Bellizzi, Communications Manager of Union Radio in Miami, the panregional business model managed out of Miami “may be the most appropriate vehicle for marketers to reach their clients in the Americas.”
What does the entrance of this new player mean to the market as a whole?
Portada estimates that in 2009 the volume of the panregional advertising market was of approximately $275 million (The Panregional Advertising market is a relatively small subsector of the overall Latin American Advertising market (valued at approximately $20 billion in 2009).)
Without this new major radio effort, Portada expects the panregional advertising market to grow to an annual volume of $410 million by 2015 at an average annual growth rate of 6.8% ., Portada expects that by 2015 radio will have an 8% market share in overall panregional advertising sales.
To acquire our comprehensive 20-page report on “2010 Panregional Advertising and Media Report”, click here. The report includes detailed forecasts per media category, ad category and a description of major players.