Univision Communications Inc. announced this last Monday, February 1st, it has acquired Vix, one of the leading AVOD OTT available for US Hispanics and Latin American audiences, recently launched in Brazil. Financial details of the transaction were not disclosed.
Vix acquisition by Univision takes place after the company has renewed its executive structure, having been sold to investments funds SearchLight and ForgeLight, and announced plans to launch PrendeTV, a new AVOD OTT created exclusively for US Hispanic audiences, featuring free, premium and Spanish-language programming. As reported by Univision, Vix catalog includes 20 thousand hours of free Spanish-language film and TV programming. They also reported that Vix will be integrated into PrendeTV in the US, and ‘will bring immediate scale and momentum to Univision’s free, ad supported streaming platform’. In addition, from Univision they have also announced that, on a combined basis, PrendeTV and Vix ‘will deliver over 30 thousand hours of content, and growing, with an unmatched variety of Spanish-language programming for its consumers and a unique and powerful value proposition for advertisers’.
‘VIX is the next key step towards Univision’s goal of building the most comprehensive ad supported streaming offering ever amassed for Latin audiences’, said Pierluigi Gazzolo, President & Chief Transformation Officer at Univision. ‘VIX’s team, content library and distribution capabilities throughout the Americas immediately positions PrendeTV to lead in free, premium Spanish-language video streaming for US Hispanics, and gives our advertising partners a new way to reach audiences at scale through a platform specifically designed for Hispanic consumers’, the executive added.
In addition, Rafael Urbina, CEO & Founder at Vix, will serve as Univision’s General Manager & Executive Vice President of AVOD Streaming, and report to Sameer Deen, Univision’s Chief Digital Officer. ‘We built a digital streaming company with a commitment to deliver cultural relevance and best-in-class streaming capabilities to Latino audiences. Now we have the opportunity to realize that mission with the largest Spanish-language content company in the U.S., and I couldn’t be more excited about what we can achieve in concert with Univision’s scale and infrastructure’, said Urbina.