Startup digital entertainment outfit FAV! Network is taking aim at one of the most online-savvy and fastest growing demographics worldwide: Latino millennials.
Founded by a team of private investors led by Buenos Aires-based CEO Alejandro Burato, FAV has tapped former MundoFox prexy Emiliano Saccone as its chief operating officer.
“We all know millennials spend most of their time watching video. Many of us see it at home through our children first-hand everyday. FAV! is here to capitalize on that, except it will do so without any geographic boundaries from the get-go,” said Burato.
In a 7,000-square-foot facility in Buenos Aires, FAV creates original digital video content in English, Spanish and Portuguese that is pumped through its lineup of vertical content channels including lifestyle, food, entertainment, kids, music, technology, gaming, fiction and more.
“We aim to produce at least 300 hours of shortform content across 80 themed channels this year,” said Saccone.
FAV also aggregates multiple video content channels already existing on YouTube and other digital platforms (Facebook, Vine, Twitter, Instagram, Twitch, Tumblr, etc.) as part of its content network. Saccone pointed out that 75% of video consumption in the U.S. alone is on YouTube. To the third-party content channels it aggregates, FAV offers its “cross-promotional firepower, its platform and its technical production consulting capabilities,” said Saccone.
FAV is backed by private investors that include Los Angeles-based production-distribution outfit MarVista Entertainment, whose CEO Fernando Szew will play a strategic role in the company.
“MarVista is involved with the production of up to 40 movies a year; it’s an added value” [to the enterprise],” said Saccone, who is also based in Los Angeles. “We could lure talent with the possibilities of working on one of their shows,” he added.
FAV is up against similar multichannel networks on YouTube such as the Latino-targeted MiTu or Maker Studios, which Disney acquired in March last year for nearly a billion dollars, and is aimed at the general market. The bilingual MiTU launched in 2012 and reportedly scored up to 6 billion views last year. While MiTu mainly focuses on the U.S. Hispanic market, FAV will be intensely targeting Latin America as well, said Saccone.
Saccone was named president of Fox’s startup Spanish-language broadcast network MundoFox in early 2012, after rising through the ranks in Fox’s international channels division. He left amid a shakeup at the end of 2013.