TelevisaUnivision Buys Streaming Rival Pantaya
TelevisaUnivision is bulking up in the streaming space as it continues preparations to launch its global streaming offering ViX+ later this year.
The company has acquired the Spanish-language streamer Pantaya from Hemisphere Media Group. With a focus on movies, Pantaya had over 900,000 subscribers in 2021.
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Exact terms were not disclosed, but TelevisaUnivision will pay cash, as well as certain Puerto Rico-based radio assets, including WKAQ AM and KQ105 FM.
Pantaya was launched in 2017 as a joint venture between Hemisphere and Lionsgate. Lionsgate would go on to sell its majority stake to Hemisphere last year for $124 million, opting to focus its streaming efforts on Starz. However, with the streaming space getting increasingly crowded, Hemisphere says that it believes Pantaya would benefit from the scale TelevisaUnivision is looking to get with ViX+.
“Given the highly competitive multi-language SVOD streaming environment, Pantaya’s service is best positioned under an organization that can provide the resources and investment it needs to scale and grow,” said Hemisphere CEO Alan Sokol. “In addition, Hemisphere’s acquisition of certain Univision Puerto Rican radio assets will be an ideal complement to WAPA, Puerto Rico’s leading broadcast network.”
TelevisaUnivision, meanwhile, will instantly gain a subscriber base, and can add Pantaya’s library of content to ViX+ when it launches.
“The acquisition of Pantaya, which includes renowned content titles such as Señorita 89 and A La Mala, is an exciting opportunity to build upon our strategic growth plan as we continue to redefine the global streaming landscape,” said TelevisaUnivision president and chief transformation officer Pierluigi Gazzolo. “We look forward to welcoming the Pantaya team, the existing subscribers, and having access to the thousands of hours of content assets which perfectly complement TelevisaUnivision’s prolific longform content engine, industry-leading library and extensive portfolio of IP and sports rights.”
The Spanish-language media giant was formed earlier this year when Univision merged with the entertainment assets of Televisa. The combined company, led by CEO Wade Davis, is focusing its growth efforts on streaming, hoping to create the premier global Spanish-language offering, bolstered by Televisa and Univision’s large libraries of content.
