MEXICO CITY (AP) — Grupo Televisa, Mexico’s largest tv community, introduced Tuesday it’s becoming a member of with U.S. Spanish-language broadcaster Univision to kind a 3rd firm that can produce content material for each that would be the “definitive international chief in Spanish-language media.”
The brand new firm will likely be referred to as TelevisaUnivision. Each companies have been struggling to seize a share of the booming over-the-top video providers sector.
Televisa stated the brand new firm will likely be answerable for producing exhibits, distributing and advertising and marketing for each Televisa and Univision and in addition will create a brand new streaming channel.
“The mixed entity can have the content material, manufacturing capability, mental property, international attain and monetary assets to aggressively pursue the comparatively nascent international Spanish-language streaming alternative,” Televisa stated in a press assertion.
Televisa has 4 free-to-air channels, 27 pay-TV networks channels and subscription video service. Univision has 9 Spanish-language cable networks, 61 tv stations and 58 radio stations, and a just lately launched streaming service, PrendeTV.
Televisa depicted the practically 600 million Spanish-language audio system audio system internationally as a comparatively untapped market, noting “lower than 10% of the Spanish talking inhabitants at present use an OTT video product, in contrast with the English language market the place practically 70% of the inhabitants has at the least one streaming service.”