Luis Villanueva, president and CEO of Somos TV, Somos Distribution and Somos Productions

Somos TV is ready to face the OTT business
Maribel Ramos-Weiner|18 de noviembre de 2014

Luis Villanueva, president and CEO of Somos TV, Somos Distribution and Somos Productions, explains the reason why the company decided to go into the Over-The-Top (OTT) area. “We decided to launch a platform because we think this market represents an established business potential that is growing. There are generational and technological trends that force any company in the television business to take part in this, in addition to the established channels,” said Villanueva. He adds that in the Hispanic market, the levels of online connectivity (already equivalent to general market), ownership of mobile and networked electronic devices (presence of tablets, smart phones and computers is significant), and the use of OTT itself are pretty high. “If we add the economic factor, where a more accessible consumption option is attractive to Hispanics compared to cable and satellite, it points to a very interesting market. Recent news proves we’re not the only ones with this point of view,” added Villanueva. The company already has over 700 hours of independent content from the group’s channels that can be offered through OTT. The project follows phases: “Initially, we supply content to OTT distributors that appreciate our expertise and knowledge about the Spanish-language television market. We’re exploring long-term options and looking for the appropriate steps for a company that enters a market where there are established players as well as new ones, with great financial power and a handle on the market,” said Villanueva. The project has technical team led by Adriana Henríquez, a fierce representative of the new audience.