What: Founded by a team of private investors and CEO Alejandro Burato, digital entertainment company FAV! Network has oficially launched across the Americas. The company also announced the appointment of former MundoFox President Emiliano Saccone as COO. FAV! is headquartered in Los Angeles and its production capabilities are based in Buenos Aires, Argentina. The company is also working on rolling out an additional production hub out of Central America.
Why it matters: An increasing number of Multichannel Networks (MCNs)- or Companies that bond talent creators, often YouTubers, with audiences as well as audiences with advertisers – are emerging in the U.S. Hispanic markets and Latin American markets. This follows the same trend in the U.S. general market.
One more piece in the puzzle of the emerging Latin Digital entertainment and online video space: FAV! Network, a digital entertainment company created to bond global content creators, audiences and advertisers around the diverse Latino cultural DNA has officially launched across the Americas. FAV! is founded by a team of private investors and CEO Alejandro Burato with offices in Los Angeles, Buenos Aires, and Central America. The company also announced the appointment of former MundoFox President Emiliano Saccone to the post of COO.
FAV! creates digital video content in English, Spanish and Portuguese through a host of Owned & Operated (O&O) vertical content channels including lifestyle, food, entertainment, kids, music, technology, gaming, fiction and more, and it also aggregates multiple video content channels already existing on Youtube and other digital platforms as part of its content network. The company comes with a backing from a number of private investors including MarVista Entertainment, whose CEO Fernando Szew will play a strategic role in the company. FAV! has a strategic association with Marvista Entertainment, which will guarantee talent exposure on mainstream channels as well, in turn providing significant added value.
At its core FAV! is a multiplatform entertainment company.
Alejandro Burato, CEO and Emiliano Saccone, the new company’s COO, tell Portada “that at its core FAV! is a multiplatform entertainment company. FAV! produces, distributes, aggregates and monetizes content across all available digital platforms and it was not designed exclusively with Youtube in mind like a multi-channel network would. Youtube is one of the targets for FAV’s content and so is Facebook, Vine, Twitter, Vimeo and other. Unlike big media companies which could also be labeled as “multiplatform” FAV! was conceived with a digital DNA from scratch.”
Both executives tell Portada that they have an aggressive plan that “involves different buckets equally as important: original content, content aggregation and content acquisition. First, it is about developing our own content and talent on the back of our production facility in Buenos Aires with high quality standards and cost-efficiently. Then it is about aggregating existing content on Youtube, Vine and other platforms to maximize its exposure, reach and monetization capabilities. Finally, it is about identifying and acquiring relevant content that may have never been exploited digitally. Having a strategic alliance with Marvista Entertainment, a leading production and distribution company in the U.S., will allow for our digital stars to cross over into traditional media hence creating a virtous cycle. ”
Alejandro Burato, FAV’s CEO (left) says: “We all know where Millennials spend most of their time watching video. Many of us see it at home through our children first-hand everyday. FAV! is here to capitalize on that, except it will do so without any geographic boundaries from the get-go.”
There are different and equally important buckets: original content, content aggregation and content acquisition.
Saccone as COO
Emiliano Saccone, the new COO (left), tells Portada that “Throughout my career I have had the opportunity to build strong connections with audiences all over the world, and created bold solutions to make those connections an advertisers’ a natural habitat,” “I applied Internet’s Law of the Network Effect across many linear brands to reach unprecedented share levels, and provided opportunities for unknown talent to be heard and be seen. I’m thrilled to be able to bring all that to the table in what seems to me media’s next big chapter for years to come.”
How is FAV!s digital entertainment content going to be monetized? Saccone and Burato tell Portada that “The FAV! founding team has a history in the ad network business, and as a result it is organically setup for the monetization process. ” They add that they are “currently working on laying out a dedicated sales force throughout the key territories of Latin America and US Hispanic and that FAV! already has a solid relationships in place with the region’s key agencies and brands.”