Mexico's Film, Video, TV in Great Shape
 The News
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June 30, 2009
 |  | Without a doubt, the crisis has affected us all, and especially those who are short on cash.
- Hector Garza, Sanyo |  | | |
Despite the global economic recession, Mexico's video, film and television industries appear to be in great shape.
Some companies are absorbing price increases and bumping up the cost of their products by only a little, if at all. Electronics manufacturers and TV producers have their eye on 2020, when mandatory digital signal is supposed to have taken effect. And most sales are in dollars, allowing this sector to withstand the recession better than other industries.
For Japan-based electronics manufacturer Sanyo, those industries have brought in more sales than this period last year, and 70 percent more than in 2007, according to sales director Hector Garza. He expects that Sanyo's sales in Mexico will have grown by more than 120 percent by the end of 2009 or more than $900,000 dollars.
Without a doubt, "the crisis has affected us all, and especially those who are short on cash," Garza said.
Sanyo, however, has kept in shape by selling custom-made products to its clients "at fair prices." The quality of Mexico's video, film and television industries are on par with those of Europe, Asia and the U.S., another reason why those industries are doing well here, Garza said. In the past few years, the Mexican film industry has been increasingly recognized by the Oscars and other awards institutions.
Mexican films Rude and Corny (Rudo y Cursi), Under the Same Moon (Bajo la misma luna) and Tear This Heart Out (Arráncame la vida) performed well at the box office, bringing in more than 325.9 million pesos. Nine percent of films released in 2008 were Mexican produced, and with 182 million tickets sold, Mexico became the fifth highest theater attendance, after India, the U.S., China and France.
The film industry, however, hasn't been invincible; last month, Cinemex, the second-largest theater chain, suspended its frequent moviegoer pass, which allowed users to see unlimited movies.
Goyo, a filmmaking equipment producer, says manufacturing its products costs 30 percent more than in February, but it hasn't passed those increases on to customers.
Sales supervisor Alfonso Mercado said Mexican customers are especially sensitive, since much of the filmmaking equipment market had been abandoned. Sony marketing manager Luis RenAc García, meanwhile, said that even though equipment has gotten pricier, "clients keep on buying."
With NTX info |
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