Diversifying all the business lines transversely

Marcelo Liberini, Digital VP at Caracol TV, said in the PRODU webinar Digital Strategies in Times of Pandemic, that they are working on the diversification of the business, whether it is digital or not. “We are mainly looking for this diversification to be transversal in all the company’s business lines and to be aimed at new opportunities”.

One of the proposals they have ventured into is organizing virtual events and festivals. “We are working hand in hand with one of the main producers of theater plays in Colombia to produce and take their theater plays to digital platforms charging for the event. This gives us food for thought in relation to a virtual arena,” he said. He stated that they are betting on combining physical and virtual spaces once the pandemic is overcome, under the premise that people are going to maintain the same habits in virtual consumption, along with the possibility of expanding the horizon (by being able to present an event made in Bogota in any other city around the world), it is part of the bet.

He explained that another line of growth that is coming is the licensing of contents to third parties. They already sold prepaid content to Facebook and will soon reach Google with their program for journalistic media.

He detailed that they are also looking for business opportunities in the world of music. “Our productions have very good music in Colombia and are experiencing a boom in this sense. This opens up many good opportunities for the exploitation of original music, that is a business niche,” he commented. To look at the edges around the traditional media business, tapping into the ability to communicate, is another line to be explored.

Watch PRODU Webinar Digital Strategies in Times of Pandemic