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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