Social networking site to delve into TV library

Spanish-language media titan Televisa has pacted with social networking site Hi5 for distribution of videos from Televisa’s vast library.

Despite lagging behind Facebook and MySpace Stateside, Hi5 claims some 63% of the Spanish-speaking social networking market, with 33 million unique users, in a region where Internet use has risen 17% in the last year alone. Some 16.3% of Hi5’s users are from Mexico, according to online tracker Alexa.

Despite a Jan. 22 out-of-court settlement clearing most of the air between Televisa and U.S. net Univision, the issue of online distribution Stateside is still unclear. A Tuesday court date has been set to settle the issue.

Televisa’s 500,000 hours of programming include its hit telenovelas as well as films. It will continue to release programming through its own and, which it launched last fall.

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