Sofia Vergara Shares the Story of Her Multi-Million All-Mexican Media Empire
Aside from being a top-earning actress on U.S. television and having bountiful clothing lines and endorsement deals, Sofia Vergara also co-owns Latin World Entertainment, a multi-million all-Mexican media empire, making her one of the toppest Latin entrepreneurs of our time.
The concept of Latin World Entertainment (WE) came from Emilio Estefan's song "We're All Mexican." Sofia Vergara loves how the lyrics of song display and celebrate Latin solidarity and that what encouraged her to create her own media empire.
As stated by Business Insider, Estefan wrote the song to speak out to anti-Latino and anti-Mexican which he believes is now becoming more prevalent.
"I think it's great. I think it's beautiful to unite with people and to fight for a cause and represent a cause," the Colombian star said of the song. She also added that it's a fun way to "come together and help other people."
Founded in 1994, she built her empire with Luis Balaguer, her partner that time. Since the partners have opened the business to the market, interests have increased steadily through the years. But it was in 2010 when the company has caught the attention of media companies and marketers. "The truth is out that we're in this country and we're taking over," said Vergara.
"Because they have the relationship with a tremendous amount of talent within the Latin space, they've become a comprehensive partner that allows us to achieve a scale in the Hispanic market," said Amy Spiridakis, the director of marketing for Diet Pepsi, a client. "
According to Latin WE chief executive officer, the company's 2011 revenue was at $27 million and a healthy profit margin that is almost 20%. Clients of the company include Paramount and Disney. In fact, their YouTube channel, NuevOn, which has premiered in April has immediately been sold out. According to Forbes, the channel has been organized to build a closer connection between Latino celebs and their fans.
Vergara also noted how opportunities have grown for Latino actors ever since she first got in the business.
"Twenty years ago I started in Univision, and things have changed a lot." She also said that, nowadays, it's easier to crossover because of the increasing number of opportunities for Latinos. It seemed that doors of opportunities open widely for them every day. "We hope that there's more material written for Latin people, but I think we shouldn't complain. Things are getting better."
When asked how it feels to be her own best client, Vergara laughed and said, "It's amazing. I give me everything I want."
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