Report: Univision To Launch Streaming Service

Univision Communications Inc. plans to launch a fresh streaming service in the first half of next year.  Bloomberg calls it a bet by new leadership that the Spanish-language broadcaster can attract more viewers with a bigger online presence.

The service is expected to include advertising and rely heavily on the extensive library of Mexico’s Grupo Televisa SAB, a Univision investor and longtime programming supplier, according to people with knowledge of the matter.

The service is a top priority for incoming Chief Executive Officer Wade Davis, who believes Hispanic audiences aren’t being served by the growing number of online video services. A Univision spokeswoman declined to comment.

Univision hasn’t decided on a price, according to the people, who asked not to be identified because the project hasn’t been announced. It’s unlikely to feature current seasons of TV shows to avoid upsetting cable-TV distributors who pay for those rights, one person said.

Wade Davis

Davis, a former chief financial officer of Viacom, is part of a group of private equity investors who agreed in February to buy a majority stake in Univision. The company expects the deal to close in the coming days.

At Viacom, Davis oversaw the acquisition of Pluto TV, a free streaming service whose viewership has grown dramatically during the pandemic. He’s also a former board member of Roku Inc., a major seller of streaming devices. In a February interview with Bloomberg News, Davis described the market for a Spanish-language streaming service as “wide open.”

But Univision will face competition for viewers from a growing number of Spanish-language programs on services like Netflix Inc. The streaming giant has more than 36 million subscribers in Latin America. It operates a production hub in Spain, and has produced more than a dozen original series in Spanish, including the popular crime drama “La Casa de Papel.”

Telemundo, the No. 2 Spanish-language broadcaster in the U.S., has programming on Peacock, a new streaming service owned by its parent company, Comcast Corp.