The Caracol-Formata Hub, leveraging the extensive experience and expertise of both companies, will seek to promote quality non-scripted products to the market and offer new content proposals to local and global audiences.
Caracol Television and Formata partner to strengthen the entertainment sector in the industry
The Caracol-Formata Hub, leveraging the extensive experience and expertise of both companies, will seek to promote quality non-scripted products to the market and offer new content proposals to local and global audiences. With production solutions that will allow clients to significantly reduce their costs, take advantage of excellent locations, and count on the proven track record of both companies to produce large formats at scale in Colombian territory.
At Caracol Televisión, we have set out to break down barriers by creating wonderful stories produced under the highest quality standards. We are proud to reach new businesses alongside Formata. As Caracol Television we bring our experience of more than 50 years captivating audiences at the service of the hub. This is another step towards the internationalization of the Company, an important part of our growth strategy,” said Gonzalo Córdoba, president of Caracol Television.
Caracol Televisión is a leading media and entertainment company in Latin America, with hits such as La Reina del Flow and Pedro el Escamoso and innovative entertainment formats and musical contests such as El Desafio and La Descarga. Formata is one of the leading independent producers in Brazil and have distinguished themselves with fiction productions such as: Betinho – No Fio da Navalha and Jezabel, and in the entertainment category, their reality shows Fábrica de Casamentos and Adotada. Both companies successfully distribute their content on major Latin American streaming platforms such as Netflix, Amazon Prime, Disney+, and Globoplay.
Hub Caracol-Formata emerges as a highly cost-competitive solution, with quality delivery and great production value for integrated entertainment businesses. This initiative is supported by the largest media company in Colombia, in association with Formata’s commercial and creative capacity. In addition to back-to-back non-fiction productions for different countries and clients, the alliance will attract co-production projects in multiple viewing formats, said Daniela Busoli, founder and CEO of Formata.
The Hub will take full advantage of the geography and financial benefits that Colombia offers. The wide variety of settings, such as imposing mountains, white sand beaches, vast deserts, and the mythical Amazon, are perfect places to develop formats that will excite viewers across the continent. In addition, Colombia’s unmatched financial options, such as a tax rebate of up to 35% of the total expenditure for the production of audiovisual projects, will ensure the cost-effectiveness of the alliance.
“This unique combination will bring innovative solutions to the market for integrated Entertainment businesses. On one hand, Caracol’s experience in developing large-scale formats and its ability to build audiences in Colombia, and on the other, Formata’s production skills and go-to-market capabilities for Entertainment hubs that will allow us to continue surprising the sector said Marcio Gilherme B. da Silva, VP of New Business, Studios and Streaming at Caracol Televisión.
The Caracol-Formata Hub emerges in the entertainment sector as an innovative solution for content production, prioritizing audiovisual quality and the joint work of two companies that are currently leaders in the region.
