Entravision Inaugurates State-of-the-Art News Facility in Las Vegas

Rhea-AI Summary

Entravision Communications Corporation (EVC) reinforces its commitment to Nevada's Latino community by opening a new state-of-the-art news facility in Las Vegas. The company's three-decade dedication to empowering the Latino community is evident through this milestone. With Latinos accounting for 30% of Nevada's population, Entravision aims to amplify Latino voices and engage with this crucial demographic, especially in this critical election year.

Insights

Market Research Analyst

Entravision's establishment of a new news facility in Las Vegas is a strategic move that aligns with demographic trends and consumer behavior. With Latinos making up a significant portion of Nevada's population, this expansion can be seen as an effort to capture a larger market share in a key demographic. It's important to note that the Latino community is not only growing but also becoming increasingly influential in consumer markets and elections.

From a market research perspective, this move could enhance brand loyalty among Latino viewers, potentially increasing viewership and advertising revenues. Moreover, the recruitment of nearly 40 individuals suggests a scaling up of operations, which may indicate positive growth projections and a bullish outlook on the market potential in Nevada. The emphasis on civic engagement and political influence among Latinos could also attract political advertising spends, especially in an election year, which can be a lucrative revenue stream for media companies.

Financial Analyst

Entravision's investment in a new facility directly impacts its operational costs and capital expenditures. However, the long-term benefits could outweigh these initial costs if the facility succeeds in generating higher advertising revenues. Investors should monitor the company's quarterly financials for increases in revenue from the Nevada market, as well as any changes in operating margins that reflect the efficiency of the new facility.

Furthermore, the timing of the investment aligns with the upcoming elections, which historically have led to increased spending on political advertising. If Entravision can capitalize on this, it could see a significant boost in short-term revenue. However, investors should also be aware of the cyclical nature of election-related advertising and consider the sustainability of revenue streams beyond election seasons.

Media Industry Analyst

Entravision's expansion in Nevada reflects broader industry trends where media companies are localizing content to better serve diverse audiences. This hyper-local approach can be particularly effective in regions with large, underrepresented populations. By more than doubling local news programming, Entravision is likely aiming to become the go-to source for news for the Latino community, a move that could pay off in terms of viewer engagement and brand differentiation.

Investors should consider the competitive landscape and how Entravision's investment positions the company against other media outlets in the region. The ability to deliver culturally relevant content is a competitive advantage that can lead to increased market penetration and advertising premiums. However, it's also crucial to assess whether the company's content strategy aligns with changing media consumption habits, such as the shift towards digital and mobile platforms.

Further Reinforces Entravision’s Commitment to Nevada’s Latino Community.

Follows Entravision’s recent investment that more than doubled local news programming in the U.S.

SANTA MONICA, Calif.--(BUSINESS WIRE)-- Entravision Communications Corporation (NYSE: EVC), a leading global advertising solutions, media and technology company, proudly announced the opening of its new state-of-the-art news facility in Las Vegas. This milestone underscores the Company's three decade commitment of empowering the Latino community through trusted news and resources.

Senator Jacky Rosen with Chris Jordan SVP, Entravision Las Vegas, Michael Christenson, CEO Entravision, and Jeff Liberman, President and COO, Entravision (Photo: Business Wire)

Latinos account for 30% of the state's population making Nevada a pivotal market for Entravision in its mission to amplify Latino voices.^[1]

“The inauguration of the Las Vegas news facility marks a significant achievement accompanied by the recruitment of nearly 40 incredibly talented individuals, further bolstering our teams,” said Jeffery Liberman, President and Chief Operating Officer of Entravision. “As a civically engaged community, Latinos transcend partisan lines, with 43% of voters identifying as independent or other in both Las Vegas and the state^[3]. Failing to engage with Latinos overlooks a crucial and decisive political group in this year's election.”

With Latinos constituting 22% of the electorate in Nevada^[2], Entravision's expansion in Las Vegas, Reno, and Carson City carries profound significance particularly this critical election year.

United States Senator Jacky Rosen, United States Senator Catherine Cortez Masto, Nevada Lt Governor Stavros Anthony, and Peter Guzman from the Latin Chamber of Commerce Nevada expressed their support at the event.

“Entravision has the important responsibility of keeping Nevada’s Latino community informed about what is happening in our state,” said Senator Rosen. “I was proud to join Entravision to celebrate the ribbon cutting of their new studio in Las Vegas, and to honor the critical work they do to keep Nevadans engaged in their communities every day.”

"If you are running for elected office and not investing in the Hispanic media, you won't win and if you are a Small Business and not investing in the Hispanic media, you are not growing, that is why I am here for this incredible celebration of Entravision's investment into our community," said Peter Guzman, President of the Latin Chamber of Commerce.

Entravision's locally produced “Noticias Nevada” ranks number one in Las Vegas, regardless of language^[4]. In addition to its early evening and late news, Entravision added morning, midday, and weekend newscasts. With additional news programming and expanded news staff, “Noticias Nevada” is the information lifeline to the Latino community.

About Entravision

Entravision (NYSE: EVC) is a global advertising solutions, media and technology company. Over the past three decades, we have strategically evolved into a digital powerhouse, expertly connecting brands to consumers in the U.S., Latin America, Europe, Asia, and Africa. Our digital segment, the Company’s largest by revenue, offers a full suite of end-to-end advertising services. We have commercial partnerships with Meta, X Corp. (formerly known as Twitter), TikTok, and Spotify, and marketers can use our Smadex and other platforms to deliver targeted advertising to audiences around the globe. In the U.S., we maintain a diversified portfolio of television and radio stations that target Hispanic audiences and complement our global digital services. Entravision remains the largest affiliate group of the Univision and UniMás television networks. Shares of Entravision Class A Common Stock trade on the NYSE under ticker: EVC. Learn more about our offerings at entravision.com or connect with us on LinkedIn and Facebook.

Source: [1] Claritas, American Marketscape DataStream™ 2023 Series, Nevada Hispanic / Total Population; [2] Pew Research Center, Key Facts About Hispanic Eligible Voters in 2024, published 1/10/2024 – eligible voter (citizens 18+) data based on Pew Research Center projections for Nov 1 2024, 2022 American Community Survey; [3] L2 Registered Voter File, Retrieved May 2023; [4] Nielsen ViP, January 2024 (1/4/24-1/31/24); Live+SD; M-F 6p-6:30p & M-F 11p-11:30p, program average impressions. KINC-UNI comparison vs. head-to-head local news competitors. Excludes holiday telecasts and those that aired outside the usual time period. A18-49 and A25-54 (early), A18-49 (late).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240223336850/en/

Bertha Merikanskas

Entravision, EVP Global Communications

bertha.merikanskas@entravision.com

Source: Entravision Communications Corporation

FAQ

What is Entravision Communications Corporation's ticker symbol?

Entravision Communications Corporation's ticker symbol is EVC.

Where is Entravision's new state-of-the-art news facility located?

Entravision's new state-of-the-art news facility is located in Las Vegas, Nevada.

What percentage of Nevada's population do Latinos account for?

Latinos account for 30% of Nevada's population.

How many individuals were recruited for the Las Vegas news facility?

Nearly 40 talented individuals were recruited for the Las Vegas news facility.

Which political group is highlighted as crucial in this year's election by Entravision?

Latinos, constituting 22% of the electorate in Nevada, are highlighted as crucial in this year's election by Entravision.