Medcom: In digital, we went from providing services to our group to generating content and being very close to profitability

In recent years, large traditional media groups have been challenged to find ways to take advantage of digital windows. Medcom Panamá, which groups three open television stations (Telemetro, RCP TV, and Oye TV), cable channels, and radio stations, is promoting its digital business vertical at a time when 80% of Panamanians have Internet access and is one of the countries in the region that over indexes in social networks.

Since the beginning of 2021, the Argentine Alejandro Lladó, ex-America, and Deputy Director of Medcom Digital, has been transforming this division from a service provider to a creator of monetizable content.

“Agencies and brands already have the guideline that 40% of the budget must be invested in digital. The trends are unwavering regarding digital income and the investments are going to be increasingly stronger. Our challenge is to avoid running out of products, to offer locally relevant content,” said Lladó. In this context, Medcom plans to be “the largest digital force in Panama” by several brands developed in a dozen portals, accounts on social networks and even in the metaverse.”

The first challenge for Lladó was to convince the company about the opportunities that the digital business offers, which are not limited to a post on social networks or the insertion of banners. “Historically a large part of our income goes through TV, which continues to be the platform that generates the great general income, and the Digital Unit was seen as an internal services provider. The first barrier was in-house, to convince everyone – from the shareholders to the last employee – that digital is a business in itself, that at some point we have to be profitable and we are close to achieving it at Medcom.”

The key to growth in digital is to understand the language and format of each platform and always draw up a strategy hand in hand with brands always focused on generating income in the short or long term, he explained. To achieve this, Lladó saw the need to transform the commercial teams that were selling a product produced by others. “We have a team with the strength to create and produce content with people in editing, post-production, and creative along with our commercial team. 95% of our commercial content comes from our unit and that has paid off.”

An example is Foto Challenge, a photographic competition reality show hosted by Gray Díaz that will soon be launching its fourth season of eight episodes and that according to Lladó’s numbers, can reach 40 million people in this season. “It is a niche program in which each brand takes hold of an episode, but throughout the year content flows continuously with calls, and votes, a master class with the host is also offered, and BTL is developed with the brand. It is a comprehensive concept in which brands are alive throughout the entire process.”

They also developed a metaverse in Roblox to promote Calle 7 Panamá, which launched a new season on Monday, March 13. The digital strategy is seeking for followers to interact in the metaverse where the sponsoring brands also have a presence. Gamer is another program developed by the Digital Unit that they are promoting this year, as well as La Mordida, a space for local and international entertainment content on social networks and is beginning to be part of the morning programs of the Medcom channels and as a section on group newscasts.

A key piece of the digital strategy is supported by a catalog of some 35 influencers of Medcom that promote content. “Our sources of income come from what we go out to sell together with open TV and there are brands that want to join the morning program and amplify through social networks; and from traditional digital income such as banners, pre-roll or programmatic advertising. But now a great slice comes from generating content hand in hand with the brands and with some of our influencers.”