US-based Hemisphere Media Group announced it has acquired the remaining 75% of SVOD OTT Pantaya, aimed at Hispanic audiences in the US, that it did not already own from Lionsgate. According to the information reported, the transaction was made for about USD 124 million in cash.
In a very short period of time, Pantaya has become the destination for US Hispanics seeking premium Spanish-language movies and series’, reported Hemisphere Media Group’s CEO, Alan Sokol. ‘Pantaya offers access to blockbuster movies, original, exclusive series and other premium, world-class content unavailable anywhere else. Pantaya’s success to date affirms the tremendous appetite of our audience for our unique content offering. Hemisphere plans to increase investment in content, expanding the output of series and movies, with the aim of accelerating subscriber growth and becoming a ‘must have’ entertainment option for the large and growing US Hispanic audience’, the executive added.
According to Pantaya’s CEO, Paul Presburger, ‘as a result of our focus on exclusive premium content, our knowledge of the Hispanic consumer, and the breadth of our offering, Pantaya is now the industry’s leading streaming service for Spanish-speaking and bilingual consumers’. The executive has also added that ‘Pantaya’s accessible price point, user-friendly interface and wide selection of the best Spanish-language content has led to significant growth. In the past year, Pantaya has increased its subscription base by 40%, and we believe we have a significant runway for additional expansion ahead’.
Pantaya’s content library includes titles from Pantaya’s production arm, Pantelion, as well as titles from major producers and distributors, including Hemisphere, Lionsgate and Televisa. According to the reported information, Pantaya, originally launched in 2017, now features around 900 thousand subscribers, and Hemisphere forecast to grow that figure to 2.5 million to 3 million by the end of 2025. Pantaya is available for a USD 5.99 monthly subscription, and is accessible through its own website and app as well as distribution partners including Apple, Amazon, Google and Roku.