Colombia Film Commissioner, Silvia Echeverri outlined Latin America‘s evolving audiovisual landscape and her country’s growing production sector during a presentation at the Taiwan Creative Content Fest (TCCF), highlighting opportunities for Asian-Latin American collaboration.
Latin America’s audiovisual market is experiencing significant growth, with Argentina, Brazil and Mexico leading the sector with combined revenues of approximately $20 billion in 2021, of which $3 billion came from film earnings, Echeverri’s presentation revealed. The region’s entertainment landscape is increasingly dominated by streaming platforms, with Netflix maintaining its position as market leader through Spanish and Portuguese original productions like “La Casa de las Flores” and “Narcos.”
The streaming landscape continues to evolve with Prime Video gaining ground through local content such as “El Presidente” and “La Jauría,” while Disney+ has quickly established itself since its 2020 launch. Max has carved out a niche with Spanish-language originals like “Los Espookys,” as regional players Claro Video and Movistar Play leverage their telecommunications infrastructure to maintain market share.
Specialized platforms are also making their mark, with Pantaya targeting Spanish-speaking audiences and VIX producing originals like “La Mujer del Diablo” and “Travesuras de la Niña Mala.”
In her TCCF presentation, Echeverri highlighted Colombia’s emergence as a significant player, with its audiovisual industry revenues growing 15% between 2009 and 2019, to reach $2.3 billion in 2021. The country’s appeal to international productions is bolstered by its dual incentive structure: the Colombia Film Fund (FFC) and the Certificates of Audiovisual Investment (CINA).
The FFC offers a 40% cash rebate on audiovisual services and 20% on logistical services, while CINA provides a 35% tax rebate. These programs have attracted major productions including Ang Lee’s “Gemini Man,” “American Made” starring Tom Cruise, and Apple TV+’s “Echo 3.” Other notable projects include “Loving Pablo,” “The Lost City of Z,” “Mile 22,” “The 33” and recent productions like “Ambush,” “Freelance,” “The Morning Show” (in post-production), “What You Wish For,” “My Neighbor Adolf,” “The Changeling” and “Buddy Games.”
Since inception, CINA has approved 130 projects. FFC has greenlit 54 projects between 2013 and 2024. The initiatives have generated substantial local impact, with significant benefits to the airline and hotel industries.
The commissioner emphasized the country’s production infrastructure benefits from its equatorial location, providing consistent filming conditions year-round, while offering diverse locations from glacial landscapes to jungles and urban settings. Productions must meet minimum spend requirements, ranging from approximately $562,500 for features and series to $62,500 for music videos, with video games requiring $380,000 and advertising productions $125,000.
“We have knowledgeable crews that have had the experience of work in national and international productions and know how to do their job,” Echeverri said.
The presentation at TCCF highlighted potential opportunities for Taiwanese companies to collaborate with Latin American producers, noting significant growth in Asian content consumption across Latin America. According to market studies presented, over 60% of young people in Latin America have watched at least one K-drama or anime in the past year, with Asian content consumption increasing by 35% in the last two years.
This positioning comes at a crucial time as major VOD providers seek collaborations with local production companies across Latin America, potentially establishing the region as a significant exporter of audiovisual content, according to the Inter-American Development Bank.
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Publish date : 2024-11-05 09:16:00
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