BY CHRONICLE STAFF
Brazil is the fastest-growing advertising market in Latin America, both in percentage and real terms, according to a Latin Business Chronicle analysis of data from UK-based advertising agency ZenithOptimedia.
And spending on advertising in the South American country is growing at rates that are more than three times higher than its GDP increase.
Brazil, as it is the case in most of Latin America, has traditionally outpaced economic growth and inflation,” says Julian Porras, CEO for Latin America for US-based Omnicom Media Group. “The case of Brazil is one where given the prospects of sustained economic growth and as a larger percentage of the population are entering the middle classes, marketers and brands are taking “positions” in the consumer mind, driving awareness and building equity.”
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As a result, the market is “over-purchased” from an advertising standpoint. “But it is for a good reason, particularly as plans are developed for what will be two major media events in Brazil later this decade: the FIFA World Cup in 2014 and the Rio de Janeiro Olympics in 2016.,” Porras says. “The key for marketers is to build the right media properties, mine consumer insights, target effectively and minimize waste.”
Latin America’s ad spending will likely reach ...
Keywords: Argentina, Brazil, Chile, Colombia, Mexico, Venezuela