Revolution Studios has acquired a stake in the Latino digital entertainment co Latin Everywhere.
Latin Everywhere will use the investment to help grow its free OTT service by adding a premium subscription offering, featuring premium and popular content. Latin Everywhere also gains the Spanish-dubbed licensing rights to Revolution film library, which includes Daddy Day Care, America’s Sweetheart and Black Hawk Down (pictured).
Citing enormous potential for growth in the Pongalo platform, Revolution CEO Vince Totino also said in a company news release that the company looks to tap into the tech-savvy Latino audience, which is what made the investment appealing.
“In addition to being the fastest growing demographic in the U.S., Latinos are also the biggest consumers of online entertainment and the most avid smartphone users,” said Scott Hemming, COO of Revolution in the release.
Pongalo began as a YouTube channel. Today the company has more than 800 YouTube channels and diversified into the afformention OTT platform, pulling into more than two billion views across its network — largely from mobile, according to the company. It also maintains distribution partnerships with Hulu, Netflix and Amazon.
No details on the financial agreement were released.