American Entertainment Firms Expand Exports into Latin American Markets
September 30, 2011
(ITA)
WASHINGTON –Today, Under Secretary for
International Trade Francisco Sánchez signed an
Export Trade Certificate of Review for the
Latin American Multichannel Advertising Council
(LAMAC), which will set the framework for an
export joint venture of seven American
entertainment firms that will increase exports
of multimedia entertainment to Latin America.
“This is an important step toward realizing the
tremendous export potential for U.S. producers
of Spanish-language content,” said Sánchez.
“The President’s NEI goal is to double U.S.
exports by the end of 2014. The Central and
South America region will be the strongest
growth market for entertainment and media—with
a compounded annual growth rate in excess of 10
percent through 2015.”
The United States is the world leader in
creative content, offering a robust selection
of movies, TV shows, and other Spanish and
Portuguese-language programming. The companies
benefiting from the Export Trade Certificate of
Review will capture a large part of the Latin
American TV advertising dollar.
“As advertising revenue grows for these LAMAC
companies, the opportunity for U.S. filmed
content is likely to expand,” Sánchez added.
“This will benefit not only the big U.S.
studios, but the hundreds of independent film
and TV production houses.”
The Certificate will allow LAMAC members to
exchange information regarding all aspects of
foreign market conditions and viewership,
collect and disseminate foreign market research
and analysis, and engage in joint promotional
activities aimed at developing export markets.
LAMAC members include Discovery Latin America
LLC, Fox Latin American Channel Inc., NGC
Networks Latin America LLC, Turner Broadcasting
System Latin America Inc., A&E Mundo LLC,
History Channel Latin America LLC, E!
Entertainment Television Latin America
Partners.
The Export Trade Certificate of Review program
helps U.S. firms improve their export
competitiveness by giving them legal
preclearance to coordinate with one another as
an Export Joint Venture. Export Joint Ventures
under the program are typically organized along
industry clusters and often involve competing
domestic companies. There are currently 70
certificates with approximately 2,500 firms
participating in the program. In 2010, exports
associated with the Export Trade Certificate of
Review totaled an estimated $19.6 billion.
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