After announcing its sale on December 29th, shared between Televisa and investment funds SearchLight and ForgeLight, Univision Communications Inc. reported that it plans to launch a new AVOD OTT created exclusively for the Hispanic audience in the US. The platform will be called ‘PrendeTV’ and will include around 10 thousand hours of free programming in Spanish, including premium content on demand. The launch date is scheduled for the first quarter of 2021.
As reported, the new Univision platform will include a catalog of series, films, soap operas, sports content, documentaries, international TV children’s programming, and others. In addition, it will include Univision and Televisa’s catalogs, not available on any other streaming platform so far. This way, months ago, Blim TV (Televisa) had also announced the launch of its AVOD version, also scheduled for this year.
‘PrendeTV is an important initial step in Univisión’s efforts to forge the same leadership position that we have in Spanish-language TV in the emerging Spanish-language streaming environment’, said Wade Davis, CEO at Univision. ‘The announcement about PrendeTV highlights our focus and commitment to rapidly driving transformation and growth for the company. Our audience does not have access to anything like PrendeTV today, and this platform will completely change the environment of streaming video in Spanish-language media in the US. With the launch of PrendeTV, we are focused on offering new ways for our advertisers to reach the Hispanic audience in the US and, above all , it will be a crucial aspect of our strategy to increase the reach of our commercial partnerships with our main distributors’, the executive added.
The AVOD OTT will be launched with more than 30 channels and 10 thousand hours of video on demand programming in Spanish from international content partners. In addition, Univision reported that the new platform will expand its premium content catalog. The company plans to launch the OTT through a web version (Prende.TV), as well as in free applications for mobile devices and connected TVs.
On the other hand, according to the terms of the agreement for the sale of Univision, the SearchLight and ForgeLight firms now own a 64% stake in the company, while the remaining 36% belongs to Televisa.