February 19, 2021

When Jeff Bezos founded Amazon, he was thinking of making it the largest online sales platform for books. Selling online was the platform that made him quit his excellent job, borrow money and a car from his parents, and move with his wife to Silicon Valley. Not that he loved online sales (that he was just getting to know himself), but he could recognize the imminent growth of this platform. Books were one of his passions, but he did not stay in a passion of course, he started selling music, toys, then household appliances and everything we can imagine and that we enjoy as customers. But if there is something that should open your mind, it is that Jeff Bezos is not only betting on online sales, but also that he currently has physical Amazon stores, in addition to physical stores of the Whole Foods chain.

 

He did not stay in this appreciation of the growth of online sales, nor did he stay in wanting to be (and achieve) the largest book distributor. And I'll give you an easier example, Apple now makes electric cars!

 

Simply put, Hispanics and the Hispanic industry are much more than Broadcast and social media. When we sell to this industry we cannot sell them products or content on various platforms, in order to embrace this unique industry you have to sell "emotions". Emotions that define your recent memories of each culture that represents the diversity of the Hispanic market. The growth of Hispanic food is imminent in the United States, so much so that in most supermarkets we see entire aisles dedicated to Hispanic food, but even when the giants that dominate the sale of food (Hispanic and non-Hispanic) have been able to see this growth, still only few brands and products are there for hispanics customers. For a Mexican, the tortilla is not a product, it is an emotion, it is a necessity, a taste. That no matter how much this Mexican speaks English all day, or watches television in English, his food is almost irreplaceable. That is powerful! it is more than any company could dream of! But why have Telemundo and Univision not understood that the influence they can have in this industry could be immensely greater? because they are focused on competing with the wrong competitor! they want to remain focused on a national rating that is crumbling due to a "cord-cutting" reality that has been growing for years. Nothing new!. They focus on wanting to ride a wave that has already turned into an immensely red sea of "streaming services".

Hispanics love cars that remind them of their culture (which many can't find in America). And it is not about old versions of cars, but new versions of cars based on the models that Hispanics remember, that excites them.

The passion for Hispanic music is a commercial super power that has not yet been truly exploited as a business by Telemundo or Univision, because they continue to limit themselves in producing musical content for their platforms! This is a completely separate business! That may well benefit from the influence they already have in the industry, but it is to stop thinking about "content" and think about "new lines of business" focused on the Hispanic market, not just content for Broadcast and social media for the Hispanic market.

Published by Paola Alliegro - Director of Operations at RP Service Group

Business woman and Director of Operations of RP Service Group, a company that has focused on Film and TV equipment rentals. With more than 15 years of experience in Hispanic Media especially in NBC Telemundo Hispanic Group. 

 

 

Leave a reply

Image CAPTCHA
Enter the characters shown in the image.