On the latest episode of La Previa, Xavier Gutierrez, the president and CEO of the NHL’s Arizona Coyotes, joins Asli Pelit to discuss the newly launched Latinos in Sports (LIS), a networking platform designed to showcase Latinos’ positive contributions to the sports business.
As the only Latino CEO among the 153 sports teams that compete in the top five sports leagues in the United States, Gutierrez has wanted to change the landscape for some time. “We need more representation in the front office, in the leagues and in media companies,” he said.
Together with Pedro Guerrero, CEO of Guerrero Media, and Mike Valdés-Fauli, the COO of the advertising agency Chemistry Cultura, Gutierrez launched LIS to highlight the importance of Latinos in the sports industry, to elevate them in sports teams and leagues and to help with leadership through mentorship and networking.
According to research LIS put together, 63 million Latinos make up 19% of the U.S. population and drive $3.2 trillion in GDP. Gutierrez says their impact is even more significant in the sports world. The Hispanic sports marketplace is a $21 billion-a-year segment based on Boston Consulting Group’s (BCG) 2022 report. Forty percent of Latinos are sports fans and are twice as likely to attend at least one sports event weekly; 33% are likely to purchase products based on commercials viewed during games.
And more importantly, Latino youth fandom is expected to grow by 22% in the next decade.
“First of all, there are more Latino Gen Zs than any other demographic because we are a very young community, especially here in the United States,” Gutierrez said. “If you are a sports team or a league needing new fans and new revenue streams, Latinos should be the most important demographic to you.”
Gutierrez and his business partners launched LIS in May with an inaugural event in Miami during the Formula 1 Crypto.com Miami Grand Prix. There will be more events around the U.S. in the coming months, designed to bring together Latino executives, non-Latino owners and front-office executives to create a space for communication and networking. Additionally, LIS will work like a think tank, conduct research and create reports for brands and sports properties.
“Latinos are important for the sport and the sports world,” Gutierrez said. “And we want to convey this message and amplify it.”
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