What: Latin multichannel network MiTú announced a partnership with media agency Tapestry for online video advertising and in-video product placement.
Why it matters: The deal is part of a trend in which agencies and online video content platforms sign broad agreements that include “traditional” advertising and product placements.
MiTú, the Latino lifestyle video content network funded by the Chernin Group,announced today that it has closed a significant marketing agreement with Tapestry, a division of Starcom MediaVest Group Multicultural. The year-long deal negotiated between Tapestry and MiTú’s Chief Revenue Officer, Charlie Echeverry, contains a variety of advertising and integrated marketing elements designed to give Tapestry clients strategic level share of voice across the MiTú networks as well as access to deep integration and social amplification opportunities with MiTú content creators throughout the year.
The deal includes instream video advertising and light integration of certain products within the content for a number of brands.
Campaigns leveraging the new partnership will begin as early as October. A spokesperson at MiTú told Portada that the integrated marketing elements include “instream video advertising and light integration of certain products within the content for a number of brands.”
MiTú is a multichannel network (MCN). According to the spokesperson MiTú has 950 partner channels, 8 million hours of monthly engagement, 150 million monthly views and more than 25 million global uniques. MiTú is presently expanding its lifestyle content and programming strategy to include male focused and music content for the first time.
“We are happy to be one of the first movers with MiTú which is adding robust, engaging Latino content into the expanding Hispanic digital space. We are excited to see the network continue to grow and offer solutions that are both video centric and socially connected,” said Marla Skiko, SMG Multicultural’s EVP of Digital Innovation.
“Tapestry uniquely understood the scale, engagement and relevancy that our social video content network could drive and they moved aggressively toward a significant stake in our marketplace to the benefit of their roster,” stated MiTú’s Charlie Echeverry.
MiTú is backed by The Chernin Group LLC (TCG) Along with other investors including: Allen DeBevoise, Chairman, CEO and co-founder of Machinima; Advancit Capital, a venture capital firm founded by Shari Redstone and Jason Ostheimer; Quincy Smith of the internet and media focused merchant bank Code Advisors, and Juan Cristóbal Ferrer of Ferrer Comunicación in Mexico.