Those up to date on the streaming industry will likely be aware that Fox Corp and Comcast were on a mission to obtain ad-supported streaming services in 2020, so they could build their customer list via over-the-top platforms.
Now Univision, known as one of the biggest Spanish-language broadcasters, is following in their footsteps 12 months later. The company has revealed plans to acquire a streaming platform called Vix – which is a Spanish-language ad-supported service.
The moves from these companies make sense from a business perspective, as the US Hispanic demographic is large. They form almost 20% of the entire population, with an average age of 29 – which means they are the perfect age for targeting streaming platforms.
There’s no doubt that platforms such as Univision are aiming to build up its base of loyal customers for both its own content or the marketers advertising via the ad-supported nature of these over-the-top services.
Data backs up the importance of focusing on this demographic, as Nielsen revealed that 70% of Hispanics said they spent more time watching movies or TV shows on a streaming service when the pandemic first broke out.
Natalia Borges, evp of marketing at Vix, said ‘These audiences are extremely savvy when it comes to devices, to tech, to things like streaming, mobile and social, but they are continuously underserved.’