Cisneros Interactive enters Online Video Space, buys 50% of ITCLICKVIDEO
What: Cisneros Interactive, the company that also owns mobile advertising firm Adsmovil, has acquired a 50% stake in the Latin American online video network ITCLICKVIDEO.
Why it matters: The move shows how important it is to have an online video unit in the U.S. Hispanic and Latin American markets.
Cisneros Interactive, a corporate division that encompasses the Cisneros organization’s digital initiatives, has announced an investment in ITCLICKVIDEO, acquiring a 50 percent stake in the Latin American premium video network .
Founded in 2014 by Lucas Jinkis and Diego Waciarz (the duo responsible for launching such publications as ESPN, Susana Gimenez, Maru Botana, Playboy, El Gourmet.com, Fashiontv, CasaClub and Miradas, among others), ITCLICKVIDEO offers digital publishers a video on-demand platform with content about fashion, food, travel, lifestyle, sports, music and entertainment. The company currently has deals with Microsoft/MSN, Yahoo!, Terra, Televisa, and a number of important dailies in the region.
ITCLICKVIDEO provides a comprehensive solution that incorporates the production of content, the reproduction of such via an exclusive streaming platform, and advertising sales. The company also works with brands in Latin America, developing digital content as content solutions for their marketing and communication needs.
“We are pleased to partner with distinguished entrepreneurs with a proven track record in the media industry. The Cisneros organization has developed and exported top-quality content for more than 50 years, and it’s just natural for it to embark in the creation of audiovisual content for today’s digital platforms,” stated Victor Kong, President of Cisneros Interactive. “We are confident that their leadership will provide our advertisers and media partners an excellent solution”
“The arrival of Cisneros Interactive as a partner presents great opportunity for growth, increases our digital media content offering, and supports our expansion into new countries,” emphasized Lucas Jinkis, Co-Founder of ITCLICKVIDEO.
A point reiterated by ITCLICKVIDEO Co-Founder, Diego Waciarz, who stated: “We offer an innovative business solution, selling advertising incorporated into video content we produce ourselves, this way we provide publishers with a new possibility of generating revenue. And now with the support of Cisneros Interactive, we can build the region’s leading premium video network, offering local and pan regional advertisers the opportunity to effectively reach a mass audience that’s really massive.”