Latino-centric multichannel network cut similar syndication deal with Univision last month
Under the deal, AOL has rights to distribute MiTu’s original and partner-produced short-form video content — in both English and Spanish — across all of its digital platforms, including The Huffington Post, AOL On and its Hispanic content network, Voces.
Financial terms of the deal weren’t disclosed. MiTu, whose investors include Chernin Group, last month announced a similar syndication agreement with Univision Communications.
MiTu launched in spring of 2012, led by Latino TV industry vets Doug Greiff, Beatriz Acevedo and Roy Burstin. The multichannel network as of last November had 45 million monthly global unique viewers who watched 200 million video views.
“This deal allows us to provide AOL, one of the world’s strongest and most recognizable digital platforms for news, entertainment and sports, compelling video content geared towards the Latino community,” Burstin, MiTu’s CEO, said in a statement.
In December, AOL served up 692 million video views in the U.S. — second only to Google’s YouTube, which remained in a class by itself with 13.2 billion views, according to comScore. For AOL, the MiTu content will “supplement our video catalogue with high-quality content across a range of topics for our growing Hispanic audience,” said Frank Besteiro, VP and head of biz dev for AOL Video.
MiTu produces English, Spanish and Portuguese-language digital video channels, with content in lifestyle categories of beauty, food, do-it-yourself, home and health, as well as the male-skewing pop culture channel Macho.
MiTu’s investors, in addition to Chernin Group, include: Machinima chairman Allen DeBevoise; Advancit Capital, a venture-capital firm founded by Shari Redstone and Jason Ostheimer; Quincy Smith of Code Advisors; and Juan Cristóbal Ferrer of Ferrer Comunicación in Mexico. The Culver City, Calif.-based company raised $3 million in funding in December 2012.