Today we launched PrendeTV – the first free ad supported streaming service built exclusively for U.S. Hispanics, in Spanish. Understanding that viewing habits are changing at a rapid pace, it’s no secret that the enormous growth of streaming video and OTT services are playing a big part in how we all consume content. As streaming continues to rise, the AVOD industry (ad supported video-on-demand) in particular has seen unprecedented growth—$8 billion in revenue in 2019 and expected to triple to $24 billion by 2025 (1)— giving marketers an opportunity to expand a brand’s reach by tapping into incremental consumers.
Take the U.S. Hispanic market, for instance. According to Nielsen, Hispanics over-index in ownership of internet-connected devices and smart TVs, as well as consumption of streaming content. However, research shows that consumer demand is not being met and that Hispanic streaming video audiences have not been consistently, strategically, or significantly targeted.
That’s where PrendeTV comes in, delivering free, premium 100% Spanish-language programming to a community that is currently being underserved in the market. Taking its name from the Spanish word to “turn on,” PrendeTV will give Hispanic viewers the opportunity to turn on a wide selection of proven television programs featuring the shows and stars they love on any screen, anytime and anywhere. For marketers, it’s the best of TV (proven, quality content with mass appeal) and the best of digital (non-skippable, precision-targeted ads with frequency management).
Here are three things to know about PrendeTV:
Mass appeal: At 63 million strong, with a projected $1.9 trillion in buying power by 2023, Hispanics represent a tremendous opportunity in the AVOD space (2). What’s more, Hispanics are super streamers—83% of Hispanic adults are streamers vs. 74% for non-Hispanics (3).
On top of that, they are looking for content that resonates, in language and in culture— 55% of Hispanics age 35-44 “wish there was more content in Spanish,” and for the 25-34 Hispanic cohort, that number rises to 58% (4). There is clearly a high audience demand for a new streaming service such as PrendeTV. Proving the point, in a recent proprietary study conducted in partnership with AHZUL, 96% of Hispanics surveyed said that they are likely to use PrendeTV (5).
Proven content: PrendeTV will be the most comprehensive offering of unlimited premium and exclusive content ever curated for U.S. Hispanic consumers. Launching with over 45 channels and 10,000 hours of video-on-demand programming, the platform will give our viewers access to a collection of Spanish-language content from more than 40 global content partners –from Hollywood movies and acclaimed global television series to novelas, comedies, classic sports, documentaries, lifestyle shows and children’s programming.
On top of that, PrendeTV will feature Univision and Televisa’s exclusive and robust libraries of beloved, fan-favorite programming: This is content exclusively for Hispanics and not available on any other streaming platform.
A winning combination: Building on the power of PrendeTV, Univision recently announced the acquisition of VIX, an independent ad supported video-on-demand platform serving Latin America and U.S Hispanics. With over 30,000 hours of free Spanish-language film and TV programming, the combination of PrendeTV and VIX’s broad content library—as well as its distribution across mobile and connected TV platforms, such as Roku, Apple TV, Fire TV and Android TV— will bring immediate scale and momentum to Univision’s video streaming business and to our partners.
To learn more about PrendeTV and VIX, please reach out to Michelle Savoy at msavoy@us.univision.com