💸Moneda Moves (46): What Latinx film news has to do with our spending power 🎬⚡
It's another Friday in the books, mi gente! If you are a lover of all things film -- this notita goes out to you.🎬 Remember that $1.7 trillion spending power the Latinx community has that we like to talk about? It could play a big role as a few major announcements came out this week in Hollywood and television industry.
(Source: Statistica)
Latinos have historically held the highest moviegoing rate among other ethnic groups in the United States and have the numbers to prove it. ⚡Generally-speaking, this population also ranks high when it comes to consumption in the entertainment and film category. Despite the fact, Latinos are sorely underrepresented in film. Only 4% of top jobs in film were held by Latinos, per a report by USC that looked into the top films every year from 2007 to 2018.
Given this dismal figure in regards to representation, you can imagine our excitement with a few recent announcements of Latinx movies, documentaries getting picked up my major streaming services and announcing their debuts.
A personal favorite?
Mucho Mucho Amor (debuts Summer 2020, acquired by Netflix): A documentary on the life of the great Puerto Rican astrologer Walter Mercado. Walter was a staple in many Latino households and provided a message that spoke to so many Latino communities: A message of hope and love. Journalist Julio Ricardo Varela did a great interview for Latino Rebels with one of the co-directors and peer, Cristina Costantiniabout her work on the film before Mercado's passing last year.
Catch the full list at the bottom of the newsletter. See you there!
(Credit: Giphy)
Con poder✊🏽,
Lyanne
Keep tabs/cuentas on what's happening at the intersection of Latinx and money.
Money worries may outweigh mental health for Latinos💰: U.S. adults by in large worry about their ability to afford medical bills, retirement and affording a child's education. But new research by New York State Psychiatric Institute found that our Hispanic population and women in particular reported these worries more often than other groups. Among those surveyed:
56% reported college tuition as their worry
49% worried about retirement
Read more findings from the report here.
Know the powerful/potentes Latinx and up-and-comers in the money world.
Latinx founders rocketed to 15% of all entrepreneurs in 2019💼: Don't sleep on this stat. Latinos are entering the entrepreneurship game at full force. In 2001, this number was 6.5%. They are the fastest-growing demographic among all U.S. entrepreneurs. The challenge? The ability to scale that so many companies are facing at the moment. Only 3% of Latinx-owned companies ever exceed $1 million dollars in revenue. This Inc piece emphasizes the need for capital and funding for these companies.
(Source: Inc Magazine)
Put your money/monedita where your mouth is! Some money updates for thought.
When it comes to entertainment consumption, the Latinx community knows a little bit about putting your money where your mouth is. Here are just a few of the recent films featuring Latinos or led by Latinos announced for 2020:
"The House on Mango Street" (to be produced by Gaumont): Author Sandra Cisneros' classic coming of age story about a young woman living in Chicago and her dreams is coming to the big screen. Gaumont, the company that produces "Narcos" has announced it is picking up the story and Chicago reading list staple for television.
One Day At A Time (4th Season Premiere on Pop TV): This series follows the Cuban American Alvarez family and tackles social issues along the way. It earned its way into the hearts of avid watchers and after being canceled by Netflix (search #SAVEODAAT) is now making its way to cable television on Pop TV.
(Credit: Twitter)
Gentefied (debuts February 21, 2020, acquired by Netflix): A web series on gentrification in Boyle Heights, Los Angeles.
Diego Luna and Gael Garcia Bernal-produced series (coming to Amazon): We are not exactly sure what it will look like, but we've followed Luna and Bernal's bromance for the last few years and are here for it! Early details reveal that the series will be historical and capture the story of Spanish conquistador Hernán Cortes. More to come.
There's more where this came from! Want to keep up with all things Latinos and money?
Listen to our interview at KISS FM in Chicago this week on the podcast, #unEntitled with Paulina Roe to learn more about the creator, Lyanne.
Then, follow us on Instagram,Twitter and share this nottita con tu socio. Hasta la próxima.
(Credit: Giphy)