"The advertising market crisis, which is the primary source of income for the majority of the media sector, was widespread, but Latin America was the most affected region. Furthermore, forecasts indicate that it will take two years to recover and return to 2019 levels. In this environment, the digital advertising business has increased its expansion in the region. The media is finding it more difficult to compete in the Internet advertising industry with giants like Google, Facebook, and Amazon, who control a growing portion of the revenue. To begin fighting the decline in advertising revenue, the media have accelerated their business model review processes in order to have the greatest diversity of sources. In this context, the model of obtaining payment and subscription models emerged as the main alternative. Despite of it being a global trend, Latin American media have not yet achieved great results with this model of exclusive access to content [...] As a result, this study paints a critical picture of the Latin American media industry. The pandemic’s strong impact on the advertising market appears to exacerbate the crisis, particularly the labour problem, creating a fertile environment for giant digital platforms to extend their presence (also economically), while local, regional, and small media struggle to restructure their revenue. The new products and channels through which contents can be distributed, coincide with major monetization problems. So, it seems that while there are increasingly more spaces to occupy and the relevance of serious and professional information is also increasing, the ability to generate revenues decreases. The State’s assistance and its role as guarantor of the diverse and professional sources of information seem to be increasingly necessary to reverse this negative cycle." (Conclusions)