Televisa Inks Broad Pact with Latino Digital Network MiTú
MiTú, an Internet-media company focused on Latino audiences, signed a multiyear, multiplatform deal with Spanish-language media giant Televisa, under which they will jointly develop and distribute programming and formats.
Terms of the deal were not disclosed. Televisa is not investing in MiTú under the pact.
Via the partnership, Mexico City-based Televisa will work with MiTú and its roster of emerging native Latino talent to develop content, concepts and formats across various digital platforms. In addition, the companies said they will team up to distribute content strategically to let brands and other potential partners to tap Televisa’s diversified media and communications portfolio.
“The Televisa/MiTú partnership marks a new ‘power couple’ in town, as we work together to create compelling new content and break-out Latino stars that will resonate among today’s English and Spanish-speaking millennials,” said Beatriz Acevedo, president and co-founder of MiTú.
Televisa president Jose Antonio Baston commented, “For more than 60 years Televisa has been an innovator, producing and providing Spanish-language content for a global audience, and in keeping with this tradition, we felt it was strategically important to partner with MiTú.”
MiTú, which launched its network in the second quarter of 2012, claims to be biggest and fastest-growing Latino focused multichannel network on YouTube. The MCN has nearly 43 million global subscribers, with 1,300 partner channels and more than 450 million monthly views.
In June MiTú announced $10 million in Series B funding, led by L.A.-based venture capital firm Upfront Ventures, one of the original investors in Maker Studios. Other investors include the Chernin Group, Machinima chairman Allen DeBevoise, Shari Redstone’s Advancit Capital, Code Advisors’ Quincy Smith and Juan Cristóbal Ferrer of Ferrer Comunicación in Mexico.
MiTú has a syndication deal for short-form content with Univision Communications, which distributes the video on its digital properties. A rep for MiTú said the Univision deal is unaffected by the partnership with Televisa, which itself has an exclusive distribution contract with Univision for the U.S.
Check this out on Variety.