Latino Video Market Rich In Opportunity31 Jul, 2003 By: Kurt Indvik
With the more than 40 million Latinos in the United States spending $630 billion annually, it's not surprising that several hundred people turned up at yesterday morning's Latin Fiesta Breakfast. The breakfast was sponsored by Ventura Distribution and its Studio Latino division, launched earlier this year, and offered information about Latino U.S. video opportunities and the various partners in the Studio Latino division.
Ventura president Larry Hayes noted “cable TV and music led the media industry [into Latino programming,] and now we believe it's time for home video.”
Daniel Malaguilla, VP of Studio Latino, said a few years ago retailers had “two flavors” for Latino home video: low-budget action films from Mexico and dubbed or subtitled American films. But in recent years the Latino film industry has blossomed in all genres, and the Studio Latino line is an example of “the birth and development of 31 flavors in Latino video.” Malaguilla said the number of Spanish-language releases has grown by 55 percent in the past several years.
“The bottom line ... is that Latinos love movies, have money and like to spend much of it on video,” he said.
Representatives from Studio Latino supplier partners also made presentations on their programming. They included:
- Cozumel Films
- Desert Mountain Media
- Excalibur Media Group
- VAS Entertainment/Rise Above Entertainment