Industry Spotlight-LatAm
This region has its moments in popularity and obsession by international markets. This year in Cannes, it was clear that LatAm is all the rage again.
A total of 194 Cannes Lions were shared between the LatAm countries who entered this years award show. Brasil won 97 Lions including 2 Grand Prix. Colombia 25 Lions, Chile 23 and Argentina 22.
Brazil was represented by their masses. Whether it be via brands, agencies or production companies, the Brasilians could be found everywhere, even after their defeat in the world cup…!
Film Brasil was a co-sponsor of LBB Beach and I swear that the main ladies managed to be in many places at once with their numerous delegates at Cannes Lions. ANCINE seems to be rebranding and repositioning itself as friendly cool partner in the country to help international companies with their productions and campaigns to be aired in the market. Chile was again well represented with Shoot In Chile sponsoring a section at the Shots Party. We noticed that there were fewer Argentineans this year but, knowing how many Lions they won, I'm confident the country was represented in Cannes and perhaps we simply didn’t cross paths this trip.
194 Cannes Lions between the LatAm entrants:
Argentina - 22
Brasil – 97
Colombia - 25
Costa Rica - 1
Chile - 23
Dominican Republic - 3
Ecuador - 7
Guatemala - 1
Mexico - 3
Panama - 3
Peru – 9
Latin America has always been of interest to international brands but not everyone has been able to crack the code to successfully launch into any of the key hubs or periphery markets in this region. This year at Cannes it was clear that several international companies we spoke to, AdTech, production companies, agencies were eager to expand their presence into Latin America but were unsure where to start. Do they start with Brasil, Mexico or Argentina? Some had never heard that Miami is considered a LatAm hub for many businesses.
One of the common responses from these entities was ‘we have an office in Madrid, so we won’t need any assistance with rolling out to Latin America’. Here at Foresyte media we specifically help businesses expand their footprint into LatAm. Whether it is launching a digital delivery network throughout LatAm, opening up an office in one of the key production hubs, providing up to date market research on the region or country specific intel, ensuring content is approved to air in LatAm and Brasilian markets, we are here to help and make your company a success in LatAm. We have partnered with several industry experts throughout the region to ensure that we only provide the most up to date and relevant information for your business. We are fluent in the LatAm culture and between us we speak all three languages – English, Spanish and Portuguese.
Why is LatAm important?
Creativity in these markets (specifically Argentina and Brasil and now it seems also Chile and Colombia), is truly unique and it has a winning combination not just for the LatAm markets but it is also revered and sought after in international markets. Talent generally costs less throughout the region, there is one main language spoken across the majority of LatAm countries (albeit different accents and slang per market). Brazil (Portuguese) is its own dominant market that, despite the economic and political issues, only keeps growing.
Main LatAm Production Hubs
Argentina
Brasil
Chile
Colombia
Mexico
Advertising spend throughout Central and South America is vast and depending which data research platform you subscribe to varies in the millions. According to emarketer, Latin America is the fourth largest ad market and will account for 6.1% of worldwide media ad spending this year. 2018.
This number seems to steadily increase year on year due to the large adoption of mobile phones and smart TVs and access to internet, which regional and international brands want a piece of. Plus the ad spend on traditional media in key markets like Brazil, is only on the increase too. Traditional media will receive the largest share of overall ad spending in Latin America, at 73.7%, amounting to $28.30 billion. Again these figures vary depending upon your chosen source. Foresyte media works with a variety of market research companies in LatAm to ensure that we have the most accurate data available for our clients.
Find out more about how Foresyte Media can guide your company to launch into the LatAm market - CLICK HERE.