Report: Univision Plans to Launch New Ad-Supported Streaming Service in First Half of 2021
It looks like 2021 will be filled with more streaming service launches as Univision will be bringing their own offering into the mix. According to Bloomberg, the company plans on launching the new service in the first half of 2021.
While the price is yet to be determined, the service is said to “include advertising and rely heavily on the extensive library of Mexico’s Grupo Televisa SAB, a Univision investor and longtime programming supplier,” sources told Bloomberg. The service isn’t expected to include current seasons of TV shows, but will be aimed at offering content geared toward Hispanic audiences.
The upcoming streaming service is company CEO Wade Davis’ top priority as he believes the niche audience is not getting their full due in the sea of streamers currently available. Univision previously launched Univision Now, which features content from Univision and UniMás, as well as soccer highlights, horoscopes, news and telenovela recaps. However, Davis believes there hasn’t been enough push to make it a competitor in the current market, sources told Bloomberg.
Univision’s new offering will have some huge footsteps to follow. As it stands, Netflix currently has more than 36 million subscribers in Latin America, with a production hub in Spain that has churned out megahits such as La Casa de Papel a.k.a Money Heist. On the AVOD front, Univision will have to compete with services such as Pluto TV, which offers over 12,000 hours of Spanish-language programming.
Univision’s new offering will also be making its bow amid other notable launches. ViacomCBS will be relaunching CBS All Access as Paramount+ in early 2021, while Discovery Inc. will be debuting their new offering, discovery+ on Jan. 4, 2021.