Largest communication conglomerate in Latin America, Group Globo wants to be a "media tech"

In this new vision, the group will focus mainly on the Brazilian consumer and will only be called "Globo"

12.Nov.2019 12:46 BRT
UPDATED 13.Feb.2020 18:59 BRT

The group plans to invest BRL 1 billion in the service and other technologies in 2020;
Globo ID, the platform for access to all the company’s services, already has 50 million users.

The newspaper Brazilian Valor Econômico brought on Tuesday (12) a detailed report on the new plans of Grupo Globo, of which the publication is part. In addition to a unification of all companies –TV Globo, Globosat, Som Livre, Globo.com and Globoplay–, Grupo Globo wants to advance in new forms of content and technologies that allow a more assertive distribution of this content. That would turn the company into “media tech”.

In this new vision, started last year with the UmaSóGlobo project, the group will focus mainly on the Brazilian consumer and will only be called “Globo”.

“What we did was adapt the operating model, including the company’s processes, governance and structure, to the strategy of being a consumer-oriented company with a variety of digital products, ”said Jorge Nóbrega, group CEO, to Valor Econômico.

ALSO READ: Globo Group debuts game licensing with French Ubisoft

According to Nóbrega, the restructuring of the company, which is making the changes under the consulting of Accenture, is already showing results. Last month was the company’s best October in four years in terms of business revenue.

This is, according to the executive, due to new and more assertively products and advertising formats recently created. Also in October, Nobrega said, without revealing a specific number, the company’s streaming service, GloboPlay, reached its annual subscriber target, expected to be reached only in December.

The group plans to invest BRL 1 billion in the service and other technologies in 2020. Amid this restructuring, Globo ID, the access platform to all the company’s services, already has 50 million users. And that number only tends to grow with the new path taken by the company.

ALSO READ: Globo Group launches new audiovisual production studios in Brazil

The joint venture formed later this year between the group and Stone is all about these new goals. The new company, which will have 67% stake in Stone and 33% stake in the media company, will focus on micro and small entrepreneurs in the country. While Stone will lead all the development and operation of the card machines, Globo will invest BRL 461 million in media on their own channels to promote the new product to the market.