GoDigital Media Group (“GoDigital”), the owner of mitú, announced the acquisition of NGL Collective with the backing of MEP Capital, a media and entertainment-focused investment firm. The new entity will retain the name of NGL Collective.
8/4/2022 Update/Correction:
This article previously mentioned that reVolver podcasts is part of the Latido platform (owned by mitu), however reVolverpodcasts is not in anyway included in, or a part of the NGL /mitu transaction. reVolver and Latido parted ways amicably last year, Jack Hobbs, president reVolver podcasts, tells Portada.
As part of the acquisition, NGL Collective (“NGL”), a leading New Generation Latinx digital-first media and entertainment company co-founded by actor and activist John Leguizamo and industry leader David Chitel, is merging with GoDigital’s mitú. The new entity will retain the name of NGL Collective. It claims to be the largest 100% Latino-focused digital-first Latinx media company in the country helping advertisers connect with this coveted audience regardless of age or language preference. NGL will cater to a network of Latinx creative and media partners, reaching U.S. Latinx communities via an array of social media and editorial sites, in-person and virtual community events, and published research. Digital media in all its facets, including influencer marketing, social media and CTV, has become the prevalent way to target and engage the GenZ consumer(check out our recent interview with Tecate’s Belen Pamukoff).
“Latinx media consumption is exploding. NGL’s expertise in Latinx media solutions and our shared commitment to culturally relevant creativity makes it a great addition to GoDigital’s portfolio,” said Jason Peterson Chairman and Chief Executive Officer of GoDigital Media Group. “This acquisition cements our foothold in the U.S. Latino media space.”
Mitú, a heavily funded former multi-channel Youtube Network
Mitú, started as a multi-channel YouTube network targeting the LatinX consumer in 2012. The company got more than US $50 million in funding by investors including the Chernin Group. In February 2020 mitu was bought by Latido Networks, a subsidiary of GoDigital. Latido Networks owns the Latin music-focused YouTube multi-channel network VidaPrimo. “It’s very much a “zipper” concept, meaning they provide much of what our other brands (most specifically Latido) were seeking to build, and we have the infrastructure and media impressions that will help mitú get even more out of its brand reach”, a source at Latido Media told Portada at the time.
mitú Acquires NGL Collective: Consolidation in the Hispanic Digital Media Sector
mitú’s acquistion of NGL Collective is a further step in the consolidation of the Hispanic digital media sector. The consolidation in the Hispanic digital media sector includes recent transactions like MyCode’s purchase of Impremedia and TelevisaUnivision’s acquisition of Vix, the former Batanga, in February 2021.
NGL’s premium Latino video, on web, mobile, social, and connected television and the #1 comScore ranking, coupled with mitú’s community of more than 13 million social followers and web visitors, will provide an unmatched video-driven experience for consumers and advertisers. With the combined market presence of mitú brands, comprising wearemitú, somosmitú, FIERCE, crema, and Things That Matter, and NGL brands, consisting of Latina Moms, Hispanic Kitchen, and Hispanicize, the new NGL community will constitute the largest gathering of Latinx influencers, content creators, entrepreneurs, trendsetters, and media and entertainment innovators in the world. NGL’s in-house Emmy®-nominated production team will also join forces with mitú’s social content and brand studio team, which operates mitú Studios, a 14,000-square-foot studio in Eastside Los Angeles.
“Latinos are the largest ethnic group in the U.S., accounting for 11% of the buying power, and yet their contribution is consistently excluded in media and entertainment,” said John Leguizamo, Co-founder and Partner of NGL Collective. “With NGL Collective and mitú’s shared commitment to amplifying the voices of the Latinx community, our platforms and reach will expand. We will create more opportunities for Latinos in front of and behind the camera to speak directly to our community and influence how America sees us and how we see ourselves.”
“For ten years, mitú has built its legacy through creating communities and ensuring Latino voices are heard. Joining forces with NGL enables mitú to continue to build brands, cultural content and experiences that resonate with and represent the diverse U.S. Latino community,” said Vanessa Vigil, Chief Brand Officer, NGL Collective (former General Manager at mitú) . “It’s exciting to bring these companies together in a shared mission, with complementary solutions, and be part of leading mitú and NGL brands into the next decade.”
NGL will be helmed by current Chief Executive Officer and Founder David Chitel, with the creative support of Partner John Leguizamo. Vanessa Vigil will be elevated from General Manager of mitú to Chief Brand Officer of NGL. Ben Leff, NGL’s Chief Operating Officer, Ben DeJesus, President of NGL Studios, and Joe Bernard, NGL’s Chief Revenue Officer, will remain in the same capacities. Stephen Brooks, President of mitú and Latido Networks, will oversee the integration of the two companies, focusing on strengthening GoDigital’s investments in Latinx media.
“This unprecedented business combination solidifies our mission of being the #1 New Generation Latinx digital-first media and entertainment company in the U.S.,” concluded David Chitel, Chief Executive Officer of NGL Collective. “The power and influence of U.S. Latinos merits a company like NGL exclusively focused on connecting advertisers with our coveted audience in-language, in-culture and in-context. The depth of our newly expanded offering inclusive of mitú makes us far and away the leader in our space.”
