São Paulo – Growth prospects for the digital economy beyond traditional media outlets were the highlight of the lecture by Sir Martin Sorrell (pictured above), executive chair of S4 Capital, during the Brazil Investment Forum (BIF) 2022. “Data has become the new oil. This is what drives digital content development and distribution on social media,” said the publicist and entrepreneur during the Global Economy panel. The event took place this Tuesday (14) morning.
For Sorrell, analysis and use of data are sources to be economically exploited now. Prior to S4 Capital, which provides advertising and digital marketing services to global clients, the British was the CEO of WPP Group for 33 years. Based on his expertise in the digital environment, Sorrell spoke about the importance of countries keeping up with the pace of new media. “Digital economy in Latin America and Brazil is very different from what you see in the rest of the world. You see the analog world, which is shrinking. Digital media, on the other hand, represents 30% of the market in Latin America and 60% globally,” he pointed out.
For Brazil, the executive said digitalization is expected to grow two to three times more than traditional media in the coming years. “We’re knocking on a door that’s essentially open,” he pointed out.
Mediating the panel, Greg Barton, founder & CEO of BNamericas, asked Sorrell about a possible end to the globalization process. “I think globalization is not over, but it has slowed down a bit,” said Sorrell.
Among the processes he has been following in the global market, the executive stressed most companies were able to reduce expenses during the pandemic. Also, trips have resumed, heating some sectors of the economy, and commodity prices have spiked.
The BIF 2022 is the most prominent foreign investment event in Latin America. The event will continue this Wednesday (15) in a hybrid format, with in-person participation in São Paulo restricted to guests, promoted by the Brazilian Trade and Investment Promotion Agency (ApexBrasil), the Inter-American Development Bank (IDB), and the Brazilian federal government.
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Translated By Elúsio Brasileiro
