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Really, these portrayals of all latins as dishwashers and criminals are more than just a little ignorant. Do a little research into how much money these people make before you speak.
I think that you are unfairly playing the racist card here. Given that your underlying premise is that there is an untapped market for spanish-language porn by American studios, that puts an analysis of cultural 'norms' front and center in the argument. You titled the thread "Applying business concepts to Porn", and this discussion is doing exactly that.
First principles in analyzing the business model are whether there is a need to fill and whether you can do so at a profit.
American Porn is a sub-set of the American entertainment industry. It succeeds on an international level not because it caters to local predilections, but for the opposite reason - it trades on American cultural hegemony.
For example, Hollywood films do much better in European countries than their indigenous cinema does, notwithstanding that the local product is of high quality and speaks to their cultural experiece (well, more than Hollywood does anyways).
As far as the directors of Goya or the president of Proctor & Gamble are concerned - is there any evidence that ultra-wealthy hispanics would consume hispanic themed pornography if there was greater supply? There are wealthy blacks too (plenty of them), are they generally consuming Pirates or Ghetto Gaggers 13? I suspect the former, just like the rest of the world. If my guess is correct, then your suggestion is really to create a niche market (Hispanic-themed gonzo porn) to a niche market (gonzo porn), to a niche market (porn). A handful (let's say 250,000) of successful American hispanic business-people is hardly a large enough market sector for such a specialized product (what's next - Hispanic spanking lesbian movies)?
All of the above notwithstanding, Playboy DOES have a Spanish language cable channel which I have flipped past on occasion - near as I can tell, there is almost no original programming (and Nightcalls 411 in dubbed Spanish is not strokeworthy at all).
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