Rio de Janeiro broadcasts its investment message in London
31 July 2012, London: During the London 2012 Olympics, Rio Negocios, the business investment and facilitation agency for the city of Rio de Janeiro have been hosting a number of events in London to showcase the opportunities available to investors in this exciting city. On Monday 30th July 2012 an event was held at Somerset House, the home of Casa Brasil, to discuss with prospective investors the business opportunities available in audio visual industries in Rio de Janeiro.
Attendees of the event heard from a number of speakers as part of a panel discussion, including Marcelo Haddad, Executive Director, Rio Negocios; Steve Solot, President, Rio Film Commission; Jose Mauricio Fittipaldi, Cesnik Quintino & Salinas; Marco Altberg, President, Brazilian Independent TV Producers Association (ABPI-TV); Ricardo Rangel, Partner Conspiracao and Jana Bennet, BBC World.
With major events such as the FIFA World Cup 2014 and the Olympic and Paralympic Games in 2016 as well as significant changes to the laws around foreign investment in audio-visual production mean that the opportunities to invest in creative industries are huge.
Below are some of the key quotes and facts to have come out of the discussion. If you are interested in speaking to Marcelo or anyone else about the opportunities in Rio, please let us know.
Key quotes from the panel discussion
“The great news about the Rio AV industry is the change in the law about foreign investment, we expect to see production triple”, Marco Altberg, President, Brazilian Independent TV Producers Association (ABPI-TV)
“Brazil has by far the most impressive set of incentives in South America. The Rio Film Commission is the only one to make these available to international companies”, Steve Solot, President, Rio Film Commission
“The story is now, and it is the time to invest, best of all it will only get better as time goes on”, Jana Bennet, BBC World
“If you want to film the beach you can do it in Rio; if you want to film the forest you can do it in Rio; if you want to film the countryside, it’s only half an hour outside the city; if you want to film a modern city, you can do it in Rio; if you want to film an old city, you can do it in Rio!”, Jose Mauricio Fittipaldi, Cesnik Quintino & Salinas
“The thing to remember is that there is a huge opportunity in Rio. Brazilians want to consume new technologies and experiences. We have so much talent, so much enthusiasm, so much opportunity”, Marcelo Haddad, Executive Director, Rio Negocios
Key facts about the Rio Audio Visual industry
- Creative industry worth USD 45 bn in 2010 to Rio
- 72 TV channels currently broadcast in Rio, all of which require new content
- Market growth expected to be USD 2.7 bn in the next year
Changing legal environment
- Recent change in the law has opened up the cable television market to foreign investment, no limitations on foreign capital held by satellite channel
Airtime exploitation opportunities
- Of the 7hrs of primetime broadcast programming only 1hr 45mins is being produced by non-Brazilian companies
- Access to talent
- 45% of Brazil’s creative graduates in Rio
- 1/3 of the top audiovisual degree courses are in Rio
Genesis Institute in operation for 14 years, producing 145 companies in the market, generating revenues of USD 534M and creating 9.500 jobs