In their quest for grabbing a piece of the growing online (video) advertising market, major digital media properties such as Hulu, MSN, AOL, Yahoo and YouTube, participated at the NewFront this year. Now in its fifth year, the NewFront is a content marketplace promoted by digital advertising agency Digitas that connects brands to content creators, their projects, and their latest ideas. It concluded last night with YouTube’s presentation in the Beacon Theatre on Manhattan’s Upper West Side. The invite only affair brought together hundreds of advertisers and brand representatives to watch an enormous showcase of digital media properties and platforms.
To grow the online video ad market also means to take ad market share from the TV market. Not surprisingly, the NewFront – really a kind of digital upfronts- are taking place before most of the TV upfront functions later in May.
MiTu, only Hispanic pure play
Although many of the major properties are strengthening their Hispanic offerings see the Huffington Post – Aol Latino announcement earlier this week), there was only one NewFront presentation by a Hispanic – pure play: MiTu.
MiTu, which held its NewFront yesterday, is an online video network targeting the Hispanic population. The new bilingual network fronted by executives from programming company HIP Entertainment Group launched on YouTube on Monday. It features about 30 channels of lifestyle and entertainment content aimed at both Spanish- and English-speaking Latinos. HIP Entertainment Group President Beatriz Acevedo who also serves as head of MiTu, explained that MiTu produces original- premium content and also has a network of contributors.
Acevedo described MiTu as a third generation video vehicle for online video advertising, including branded integration.
MiTu’s current reach lies at approximately 20 million video views per month or 2 million unique users/month. Acevedo and Doug Greiff chief content officer of MiTu, explained that MiTu’s main content categories are: Beauty-Health, Food, Personal finance, Home Decoration. In the videos showcased during the NewFront function, the presenters seamlessly went from using Spanish to the English-language during their sessions. MiTu is currently self funded by its executives, most with network and TV studio experience.