More than 250 executives from all over Latin America, Spain and the U.S. attended our 2010 Panregional Advertising and Media Summit last Thursday in Miami. Agency executives, clients and media executives attended several high quality presentations and panels.
In the panel “Media Moguls Chat”, leading executives of global media companies, said that they expect the ratio of their Latin American revenues over the total revenue base to increase significantly over the next 1o years (see table at the bottom of this article). Per Mikael Jensen, CEO of Metro International noted that he expects Latin America to amount between 10% and 15% of Metro’s business in 10 years.
Jesus Mata, Sr. Director Advertising Services, DirectTV Latin America, expects Latin America to have a share of 45% to 50% of overall DirecTV’s business by 2020. He also pointed out that DirecTV Latin America is currently acquiring 24 subscribers per minute as opposed to the usual 8 per minute. This is due to the huge interest the 2010 Soccer World Cup has for soccer fans all over Latin America.
Antonio Buades, Commercial Research and New Business Director, Union Radio – the largest – Spanish-language broadcaster worldwide- said that Latin America makes up for 35% of Union Radio’s current revenues (Spain and to a lesser degree the U.S. Hispanic market account for the remaining 65%). Buades expects Latin America to account for 45% of Union Radio’s business by 2020.
Sergio Carrera, general manager of Televisa Publishing and Digital, the largest magazine publisher in the Spanish-speaking world noted that Latin America, excluding Mexico, amounts to 35% of Televisa Publishing and Digital sales, while Mexico accounts for 45% and the U.S. Hispanic market for 15%. Therefore, almost 100% of Televisa Publishing and Digital Sales are in Latin America and the U.S. Hispanic market. Carrera sees a particular strong opportunity in expanding revenues in the U.S. Hispanic market.
Tomas O’Farrell, Founding Partner and CMO Sonico, said that one of his main challenges is to convince agencies and clients about the effectiveness of social media as an advertising vehicle. Sonico, is one of the few Latin social networking pure plays, it has over 45 million registered users all over Latin America.
In another very interesting panel about "Content Preferences of Latin Audiences", Manuel Rivera, CEO of Mexico's Grupo Editorial Expansion (GEE), owned by Time Inc., talked about the change in paradigm in media consumption: from "Consumer to Prosumer". Rivera, who represented the Camara Nacional de la Industria Editorial Mexicana (Caniem) at the Summit, noted that revenues from digital media are increasing rapidly as a share of overall revenues at GEE. As a result of the emergence of digital media, consumers expectations have increased changed. Consumers now expect: to get very specific information in almost no time. Sue Cross, SVP Global Media at Associated Press also stressed that "speed" in accessing and using content is one of the main features of the current content consumption experience.
Latin American Share of Business Expected to Increase Rapidly
Televisa Publishing and Digital
35% Latin America (excl. Mexico)
Increase in U.S. Hispanic
100% (increase in U.S. Hispanic)
Check out more 2010 Panregional Advertising and Media Summit Coverage here:
Union Radio (Spain)
El Mundo (Spain)
The 2011 Panregional Advertising and Media Summit will take place on June 2, 2011 in Miami. The event will be expanded with a separate Award Show and additional content/topics.