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Focus on LATAM
October 18, 2023
Latin America is constantly influenced by a variety of sources from various regions. Social media and the most traditional channels that make up the media and entertainment industry play a significant role in shaping new and existing consumer behaviors.
Latin America is comprised of a diverse array of cultures, and is constantly and perpetually shaped and influenced by a variety of sources originating from various regions. Social media and the most traditional channels that make up the media and entertainment industry, such as music, movies, TV series, and more, play a significant role in shaping new and existing consumer behaviors.
In recent years, Asian media has experienced a surge in the production of high-quality content that has not only been widely shared but also remarkably well-received throughout the Latin American region. It's important to recognize that this shift isn't exclusive to Latin America alone.
However, what sets it apart is the significant departure from predominantly favoring content solely in native Spanish, Portuguese, or English. Instead, there's now a growing acceptance of content in various languages and from different regions and cultural backgrounds, with language no longer serving as a barrier.
This transformation can be attributed to several factors, including the globalization of media, the widespread availability of subtitles and dubbing, and the overall openness of Millennials and Gen Zers to content beyond the conventional canon. This open-minded attitude towards media content has trickled down to the Generation Alpha as well.
These transformations have not only reshaped consumer behavior but have also prompted businesses to adapt and align themselves with these emerging trends. Importantly, these trends extend far beyond the media realm; they encompass various facets of life and have given rise to a distinctive subculture of their own.
Japanese animation (anime) and comics (manga) have played a profound role and influence the cultural upbringing of millennials and subsequent generations in Latin America. While the presence of Japanese content in Latin America can be traced back to the 1970s, it was the millennial generation that played a key role in elevating its popularity to the levels we see today.
Although Japan undeniably broke down barriers in Latin America when it came to Asian content, it's essential to acknowledge that Japan was not alone in this endeavor. Moreover, anime and manga are just a fraction of the diverse spectrum of entertainment content that has found a warm reception in the region.
Other Asian countries, including South Korea, China, Turkey, India, and Thailand, have made a substantial impact on the region. South Korea, in particular, has been at the forefront of media and entertainment penetration in Latin America in several areas encompassing music, TV series, movies, comics, and more.
While some of these countries had already achieved a few significant hits in Latin America, it was during the 2010s that we witnessed a significant surge in their relevance and popularity. South Korea, for instance, experienced a breakthrough in 2012, with their highest number of broadcasts recorded across the entire continent (Ruiz, 2021).
In 2014, Turkey enjoyed a remarkable year when local South American TV networks acquired and aired their first Turkish soap opera, which turned out to be a resounding success with soaring audience ratings (Pinto, 2018).
While it's true that we often link the enthusiasm for these trends with millennials and younger generations, it's important to note that certain countries have excelled in producing and broadcasting content specifically tailored for a more mature audience.
This is evident in the popularity of Turkish soap operas, known for their intricate storytelling and compelling dramas that captivate viewers of all ages. Moreover, Bollywood, the Indian film industry, has gained international recognition for its cinematic gems that transcend generational boundaries.
These examples highlight how the appeal of Asian entertainment knows no age limit and continues to unite diverse audiences across Latin America and the globe.
An essential point to remember is that media and entertainment content is intricately intertwined with various aspects of everyday life, and these domains have likewise been significantly influenced by this market trend.
The transformation of content available on major streaming services in the region, including Netflix, Amazon Prime Video, and others, all of which have now incorporated Asian content (subtitled or dubbed to Spanish) into their offerings, is a testament of the growing relevance of Asian media and entertainment across the region. As mentioned earlier, this ongoing shift is not limited to altering consumer behaviors related solely to media content but extends to various facets of life.
In Latin America, it has become commonplace to discover coffee shops devoted to anime, Kpop, Jpop, or Cpop, boutiques specializing in Asian fashion, stores focused on Asian cuisine, skincare, and more.
This phenomenon has extended its influence to various aspects of life, including education (with individuals eager to learn Asian languages and delve deeper into Asian culture and history), online shopping (with consumers seeking products and brands endorsed by their favorite actors, actresses, or singers that are not readily available locally), and technology (with heightened receptiveness to Asian tech brands).
It's worth noting that the Asian population in many Latin American countries is relatively small and, at best, experiencing modest growth. Therefore, these businesses heavily depend on the enthusiasm of locals who aspire to acquire products they've encountered in movies, series, on social media, and elsewhere. And they have successfully achieved this. It's a noteworthy accomplishment in itself.
The widespread Asian influence on various facets of Latin America's society is poised for continued growth in the years ahead. Rather than slowing down, it is set to expand further. Business owners should diligently monitor the evolving Asian content trends and their ramifications in everyday life.
These trends have the potential to undergo profound transformations, reshaping the business landscape in ways that may leave unprepared enterprises struggling to compete effectively.
As we navigate the future, let's embrace these waves and trends when they align with our businesses, while always recognizing the crucial difference between cultural appreciation and appropriation.
It is essential that we acknowledge the richness of diverse cultures and incorporate them into our businesses respectfully and meaningfully. This will not only ensure that we remain relevant, but will also contribute to a more harmonious and inclusive society.
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The views, opinions, data, and methodologies expressed above are those of the contributor(s) and do not necessarily reflect or represent the official policies, positions, or beliefs of Greenbook.
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