Santa Monica-based movie and television studio Lionsgate Entertainment Corp. and New York City-based media company Univision Communications Inc. announced they will debut a premium Spanish-language subscription video on demand service in the United States early next year.
The service will include Spanish-language box office hits from Lionsgate’s 16,000-title library dubbed into Spanish and movies from Pantelion Films, a joint venture between Lionsgate and Mexican media company Grupo Televisa, whose television content is distributed through Univision in the United States.
“This new service has all the ingredients to be the leading premium movie channel for Hispanic audiences in the U.S. as well as a great addition to our growing portfolio of (subscription video on demand) services,” said Jon Feltheimer, chief executive of Lionsgate, in a statement.
The companies estimate a market of more than 50 million consumers in the United States.
“Hispanic movie-goers are one of the fastest-growing segments of the entertainment business today, and this platform offers a unique value proposition combining premium content, advanced technology and tremendous accessibility,” said Randy Falco, chief executive and president of Univision, in the statement.
Both companies have had high profile acquisitions this summer, with Lionsgate announcing that it was acquiring cable network Starz for $4.4 billion in June, and Univision buying Gawker Media Group for $135 million in August after the digital media company filed for bankruptcy.