Revolution Studios of Santa Monica has acquired a stake in Latino digital-content network Latin Everywhere. Terms of the deal were not disclosed, but Latin Everywhere said the deal was worth seven figures.
The deal gives Latin Everywhere of Hollywood access to Revolution’s library of film and television content, which includes the films “Black Hawk Down,” “xXx,” and “Maid in Manhattan.” The online content company will use the investment to launch a subscription video service.
Latin Everywhere distributes Spanish-language film and television content on YouTube, as well as on iOS and Android apps. The company said it has more than 50,000 hours of content, including Spanish-language telenovelas, movies, other television shows, kids programming, and documentaries.
The majority of Latin Everywhere’s viewers watch its content on their cellphones, said Rich Hull, its executive chairman.
“Most of our views come from mobile devices, which is not surprising when you think about all the mobile devices Latinos have,” he said. “For the majority of Latinos their mobile device is their connection to the internet.”
Latin Everywhere plans to launch a $5.99 a month subscription video streaming service in about a month, Hull said. The offering isn’t intended to compete directly with large paid streaming services such as Netflix or Hulu, but is designed better serve Spanish-language content to Latino viewers, he said.
“Particularly in the U.S., Latinos are underserved when it comes to digital media,” said Hull. “We are not trying to out Netflix, Netflix. If Netflix is Neiman Marcus, we are Walmart. We are something for everyone at half the price.”
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