[data from ZenithOptimedia]:
Advertising expenditures expected to grow from US$ 33,9 to US$ 38 million an impressive growth of 12,1 %. The largest advertising market in the region is Brazil, second, with a high growth rates of 28,1 % will be Argentina, who sends Mexico to third place in 2015 according to ZenithOptimedia). Except Brazil, Latin America is the only region still showing some growth in magazine advertisement (admittedly based on a small proportion of total ad spend).
Advertising Spend 2015 in Latin America (selection)

More about the WMT Report
FIPP's Annual Compendium The World Magazine Trends Report 2014-2015 provides - on over 460 pages - covers key industry data on a global, regional and country-by-country (46 countries, see Table of Contents) basic data for the consumer and B2B magazine media business. Data on advertising spending (by ZenithOptimedia) for B2B + Consumer Magazines as well as circulation figures (by PricewaterhouseCoopers) from the past and and forecast to 2016. Data about digital media, include Internet penetration and mobile penetration, plus eReader and Magazine website listings ... more