In an effort to accelerate its own video streaming goals, Univision Communications has acquired VIX, the largest independent Spanish-language ad-supported platform that offers video-on-demand content to Latino audiences in the United States and throughout Latin America for free.
Earlier this month, Univision announced its Q1 plans to launch PrendeTV, an ad-supported VOD streaming platform that will feature free, premium Spanish-language programming exclusively for U.S. Hispanics (the first of its kind). Univision’s acquisition of Vix is set to bring strong audience momentum for the budding platform, as well as a massive library of over 20,000 hours of film and TV programming. VIX will be integrated into PrendeTV in the U.S. Combined, PrendeTV and VIX will provide over 30,000 hours of content to viewers.
“VIX’s team, content library and distribution capabilities throughout the Americas immediately positions PrendeTV to lead in free, premium Spanish-language video streaming for U.S. Hispanics and gives our advertising partners a new way to reach audiences at scale through a platform specifically designed for Hispanic consumers,” said Pierluigi Gazzolo, president of Univision and chief transformation officer, in a statement. VIX’s distribution to more than 30 mobile and connected TV platforms, including Roku, Apple TV, Fire TV and Android TV, will bring immediate scale and momentum to Univision’s video streaming business, all of which will be a powerful value proposition for both consumers and advertisers.
In addition to content and distribution, VIX also brings to Univision management talent. The executive team will be led by VIX CEO Rafael Urbina, who will also serve as Univision’s general manager and executive VP of AVOD Streaming. Urbina will report to Sameer Deen, Univision’s chief digital officer.
“We built a digital streaming company with a commitment to deliver cultural relevance and best-in-class streaming capabilities to Latino audiences. Now we have the opportunity to realize that mission with the largest Spanish-language content company in the U.S., and I couldn’t be more excited about what we can achieve in concert with Univision’s scale and infrastructure,” Urbina said in a statement.
Houlihan Lokey served as financial advisor and Locke Lord served as legal counsel to VIX on this transaction. Financial details of the transaction were not disclosed.