Miami, March 4, 2020
Exclusive: THE PAN-REGIONAL MEDIA MARKET DISAPPEARS
In the first decade of this millennium, there was something in Miami called a pan-regional media market. This market included creative agencies, media agencies, clients, publishers, brokers, media representatives and some technology players. Those in the know say the market (cable, print, online and outdoor media) was worth $300 to $350 million, the equivalent of less than 1% of the total Latin American media market (Mexico, Argentina, Chile and Colombia). And if we compare this figure with the latest RECMA data for 2008/2009 — which shows that the 14 most important media networks in the region handle upwards of $8 billion — the pan-regional market represented 4% to 5%.
This market, which employed about 1,000 executives, had a serious problem: it didn’t have any industry associations, like the IAA (Florida chapter) had at the turn of the century, much less planned "get-togethers" for industry players to get a drink, share a chat, and do a little networking. Nor was there any kind of Internet association in Latin America available to educate the market, or a functioning print media association, and many of the major players took years to reach the market.
If we consider that the pan-regional market is worth $350 million (with an advertising investment in Latin America that totals 0.5% of its GDP), and that the Costa Rica market, for example, totals $256 million ($51.3 billion of 2010 GDP), we see how the pan-regional market exceeds the total Costa Rican market figures. However, we can also say that figures for the entire pan-regional market are comparable to the total billings of the two largest dailies in the Brazilian market. This means that perspectives on the size of the pan-regional market will vary according to how its figures are viewed. However, did you know how many associations catering to media players exist in Costa Rica? Over 30. And in Brazil? About six or seven.
Miami, March 4, 2011
Creating Opportunities for the Pan-Regional Market
And now, back to 2011 I launch an appeal to Miami’s media community to be a little more proactive. Miami can be a research and learning center for the region; we can create ever greater opportunities for our small business, and yes, I categorize it as small because we represent only 3-4% of what media groups handle (excluding Brazil, which is not part of the RECMA report).
I firmly believe that pan-regional activity should represent at least 10% of all communications and that it makes sense for clients to develop communication plans that have a common thread.
Let’s cultivate our work source, develop more opportunities, be more ambitious, create a healthy market, and above all, build a future for generations to come.
Gaston Taratuta is the founder and CEO of IMS with more than ten years of experience in the online advertising field. Gaston began his career as Sales General Manager in Universo Online (UOL) and two years became the President of UOL-E Corp. In 2005, Gaston founded IMS Internet Media Services, Inc, which today has over 55 employees and offices in 7 countries. Gaston holds a Masters degree in International Marketing from Florida International University and a Certificate of Participation from the Graduate program at Stanford University.