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Advertising Trends Affecting Media Companies in Argentina and Brazil
Standard & Poors, Dec 2000
Abstract
Although the success of media companies is commonly measured by their ability to attract consumers, be it newspaper readers, TV viewers or radio listeners, all of these companies depend, to different extents, on advertising revenues to sustain profitability. In Latin America, advertising revenue is one of the most volatile components of media companies' revenue mix. The macroeconomic environment, changes in consumer spending and its effects on corporate profits, as well as the appearance of new media, are key determinants of both the size of advertising spending and its allocation in a particular market. Given the relation of advertising spending to corporate and household expenditures, which are deeply affected by the level of economic activity, advertising spending is highly correlated to...
Companies mentioned in this report are: Brazil (Federative Republic of),Argentina (Republic of) (Unsolicited Ratings),Net Servicos de Comunicacao S.A.,Rio de Janeiro (City of),Buenos Aires (City of)
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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