Hispanic Digital-Media Player Latin Everywhere Changes Name to ‘Pongalo,’ Raises More Capital
Latin Everywhere, which distributes Spanish-language movies and TV shows on digital platforms for U.S. audiences, has changed its name to Pongalo and announced additional funding from investors Canyon Creek Capital and Digital Bridge.
The L.A.-based company said it was rebranding as Pongalo, which is the name of its over-the-top Hispanic entertainment service and YouTube channel, to strengthen its brand identity with consumers. The word in Spanish translates to “put it” or “play it” in English.
Pongalo did not disclose the amount of funding from private equity fund Digital Bridge and Canyon Creek Capital, which closed within the last month, but said it was in the seven-figure range. With the investment Canyon Creek’s Buck Jordan will join former MTV Networks vice chairman Herb Scannell on Pongalo’s board of advisers.
The additional funds come after Latin Everywhere disclosed in an SEC filing in June that it had raised $1.65 million in debt financing, which came from Revolution Studios and a group of other investors. As part of the funding from Revolution, Pongalo acquired rights to Spanish-language versions of Revolution’s library of 140 films from distribution partners such as Sony and Warner Bros. such as “Maid in Manhattan” and “Black Hawk Down.”
Pongalo said it plans to use the new capital to launch its subscription VOD platform with over 10,000 exclusive hours of premium titles, as well as subsidize the premiere of original series on its OTT platform. The company said the SVOD service will launch a preview later this month, and new content will be added weekly.
The company, formed in 2014 by the merger of Latin Anywhere and GoTV, is headed by chairman Rich Hull and president Jorge Granier.
Pongalo licenses its library of 50,000-plus hours of programming to partners including Netflix, Amazon, Google and Hulu, in addition to its other distribution channels. The portfolio includes telenovelas such as “Kassandra,” “Mi Gorda Bella” and RCTV’s “Juana la Virgen” (pictured above), the basis for the CW’s television series “Jane the Virgin.”
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