Panama Media & Entertainment Opportunities
The Media & Entertainment industry is a very diverse and important for Panamanians. Below you will find key opportunities within the industry:
- Television and Broadcasting: Panama has a robust television broadcasting industry with numerous free-to-air and cable channels. This presents opportunities for content creation, production, and distribution. There is scope for developing localized programming, including news, entertainment shows, sports coverage, and cultural content. According to a recent Embassy Poll, 51% of Panamanians prefer television as the primary source of information, followed by 38% using social media, 14% Internet, 6% radio, 3% newspapers, 2 % friends and 1% family.
- Film Production: Panama’s picturesque landscapes, modern infrastructure, and diverse locations make it an attractive destination for film production. The government provides incentives to attract foreign film productions, including tax breaks and funding opportunities. This opens doors for local filmmakers, production companies, and service providers to collaborate with international projects.
- Advertising and Marketing: With a growing economy and a vibrant consumer market, advertising and marketing opportunities are plentiful in Panama. Media agencies, creative firms, and marketing professionals have the chance to work with local and international brands to develop effective campaigns across various media platforms.
- Digital Media and Streaming: Panama has seen a significant increase in internet penetration and smartphone usage, creating opportunities in the digital media space. Content creators, influencers, and digital marketing agencies can leverage platforms like social media, streaming services, and online publishing to reach a broad audience and engage with consumers.
- Music and Performing Arts: Panama has a rich musical heritage, including genres like salsa, reggae, and reggaeton. Opportunities exist for musicians, singers, and performers to showcase their talent through live performances, festivals, and collaborations with local and international artists. Additionally, the development of music production studios and record labels can support the growth of the local music industry.
- Event Management and Entertainment Services: Panama hosts numerous cultural events, concerts, and festivals throughout the year. There is a demand for event management professionals, production companies, audio-visual services, and entertainment providers to organize and execute these events successfully.
- Journalism and Publishing: The newspaper and magazine industry in Panama provides opportunities for journalists, writers, editors, and photographers to contribute to the country’s media landscape. Local and international publishing houses can explore partnerships or launch localized editions to cater to the diverse interests of Panamanian readers.
- Gaming and E-sports: The gaming and e-sports industry is experiencing rapid growth worldwide, and Panama is no exception. Opportunities exist for game developers, e-sports organizations, tournament organizers, and content creators to tap into the burgeoning gaming community in Panama.
Seizing these opportunities may require a combination of creativity, entrepreneurship, industry knowledge, and networking skills. Collaborations with local organizations, government agencies, and international partners can also enhance the prospects of success in the media and entertainment industry in Panama.
The U.S. Commercial Service can help you identifying potential exports to Panama. To learn about media industry contact Fabiana Ortega, Commercial Assistant in Panama at Fabiana.Ortega@trade.gov