16 MIP Cancun: A Calm Oasis Amid a Central American Tempest TV executives are happy to go to MIP Cancun. But they’re even happier to leave the financial and social turmoil in their Central American countries behind… for a few days, at least. And, if they’re buyers, they can enjoy an all-expenses-paid (read: free) trip to the Moon Palace resort in Cancun, courtesy of RX, the organizers of MIP Cancun, now in its 11th year. For those who are not buyers, but exhibitors with tables at the Moon Palace Convention Center, the cost is U.S.$5,720, which includes registration for one delegate, three nights at the resort, and meals. For a package as a participant without a table, but with the same benefits (excluding pre-assigned meetings with buyers), the cost is $2,200. Unfortunately, Central America struggles with corruption, violence, and emigration, although the unique financial successes of Costa Rica and the Dominican Republic offer lessons in development. Indeed, the economic situation is challenging. Historically, Central American economies have been dependent on commodity exports, making them vulnerable not only to the vagaries of international markets but also to natural disasters. Panama is different due to its interoceanic canal, and it is also something of a success story. Central America is also torn between the U.S. and China. Central America’s pivot toward China is evident, with Costa Rica signing the region’s first free trade agreement with Beijing in 2010. El Salvador, Honduras, Nicaragua, and Panama have followed suit. Meanwhile the U.S. has promised $4.2 billion in private-sector commitments to Central America in an attempt to address the causes of violence and migration. Foreign direct investment in the region has also risen post-pandemic and U.S. President Joe Biden has encouraged U.S. companies to bring production there. In terms of economic rankings, the general assessment puts the Dominican Republic on top of the list, followed (in descending order) by Panama, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. That’s not to say that the North American portion of the LatAm TV sector is in better financial shape, with some Mexican acquisition TV executives expected to be up front during their meetings with content providers about their reduced acquisition budgets or already-depleted funds. That’s why some sales executives try to select the pre-arranged meetings with new buyers that are offered by MIP Cancun’s organizers as part of their table fees. They hope to establish new business relationships. Known clients or potential clients can be cornered for a chat or can be asked to attend private meetings during the market’s many events, like conferences and parties. MIP Cancun’s four-day event begins on November 19, with the market portion starting on November 20. Delmar Andrade, International Sales director of Record TV, quite possibly Brazil’s most marketing-oriented content distributor, reported that in terms of costs, the market, like “all international markets, is very expensive.” But, he explained that “MIP Cancun is very important for LatAm because it offers opportunities for more clients to learn and appreciate our content. Besides,” he added, “the fact that [MIP Cancun] is held in the same hotel where the market takes place makes things easier for both buyers and distributors.” On the buyers’ side, Patricia Daujotas, Content director at Uruguay’s Canal 10, commented: “In my opinion, the main strength of MIP Cancun is a well-organized time to meet distributors and producers. Their system for moving from one meeting to the next gives [buyers] enough time to meet with companies that maybe do not attend the other markets. “At MIPCOM, I can meet with companies from regions that are not in any of the LatAm markets, so I feel that is the best way to know what they are producing. As for the Miami shows, they are different among themselves: Content Americas is more focused on LatAm and is a very good follow up from MIP Cancun, while NATPE is mostly for the U.S. market. They are all good opportunities to search for content and meet people, but with different perspectives.” While at MIPCOM, VideoAge met with Maria Perez-Belliere, MIP Cancun’s director, who reported that the market will have over 200 buyers, the participation of all the key Hollywood studios, and a great conference line-up, with the focus on how to monetize FAST and AVoD channels, and will feature brands that will explain what the advertisers want. The conference comes as research shows Latin America boasting one of the world’s highest shares of premium video advertising across FAST and AVoD, and predicting that Brazil will become the third largest FAST market globally (after only the U.S. and U.K.) by 2029. As far as the cost to exhibit — a recurrent issue, as indicated by Record TV’s Andrade — Perez-Belliere explained that the price increase will be minimal, despite the fact that “Mexico is now becoming very expensive,” she said. Maria Perez-Belliere, MIP Cancun’s director Record TV’s Delmar Andrade with Grace Andrade and Thiago Castro Patricia Daujotas, Content director at Uruguay’s Canal 10 VIDEOAGE November 2024 LatAm Television
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