Caracol Television and Formata work together to strengthen the entertainment sector in the industry

The Caracol Formata HubLeveraging both companies’ extensive experience and expertise, the company will strive to bring high-quality “unscripted” products to market and offer new content suggestions to local and global audiences. With production solutions that allow customers to significantly reduce their costs, take advantage of excellent locations and count on the proven track record of both companies in the production of large formats on a large scale in Colombian territory.

‘At Caracol Television, We are committed to breaking down barriers by creating wonderful stories produced to the highest quality standards. We are proud to partner with Formata to develop new businesses. As Caracol television We put our over 50 years of experience in captivating audiences at the service of the hub. “This is a further step towards the internationalization of the company, an important part of our growth strategy,” he said Gonzalo Cordoba, President of Caracol television.

Caracol Television is a leading media and entertainment company in Latin America with hits like “La Reina del Flow” And “Pedro el Escamoso” and innovative entertainment formats and music competitions such as “El Desafio” And “La Descarga”. Formata is one of the leading independent producers in Brazil and has distinguished itself with fictional 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 is proving to be a highly cost-effective solution with high quality delivery and great production value for integrated entertainment companies.” This initiative is supported by Colombia’s largest media company in collaboration with Formata’s commercial and creative capacity. “In addition to back-to-back factual productions for different countries and clients, the alliance will attract co-production projects in multiple viewing formats,” he said Daniela Busoli, Founder and CEO of Formats.

The Hub will take full advantage of the geographical and financial advantages that Colombia offers. The diverse locations, such as imposing mountains, white sandy beaches, vast deserts and the mythical Amazon, are perfect places for the development of formats that will delight viewers across the continent. In addition, Colombia’s unparalleled financial opportunities, such as a tax refund of up to 35% of the total expenditure on the production of audiovisual projects, will ensure the alliance’s cost efficiency.

“This unique combination will bring innovative solutions to integrated entertainment companies to market.” On the one hand, Caracol’“Formata’s experience in the development of large formats and its ability to build an audience in Colombia and, on the other hand, Formata’s production capabilities and go-to-market capabilities for entertainment centers, which will allow us to continue to surprise the industry,” said Marcio Gilherme B. da SilvaVice President of New Business, Studios and Streaming Caracol Television.

The Caracol Formata Hub is evolving into an innovative content production solution in the entertainment sector, emphasizing audiovisual quality and the joint work of two currently leading companies in the region.

LC