Televisa is Mexico’s largest TV network. Univision is the US’s largest Spanish network for the more than 41 million people that speak the language there. Last month, both companies made official a $4.8 billion merger that will combine their synergies and “create the world’s leading Spanish-language media and content company.”
Shortly after the announcement, what is now called Televisa-Univision revealed its plans to go all-in on streaming. Its upcoming platform, set to be released on March 31st, will be called ViX. The company has already enlisted some heavy-hitters to help it enter this new chapter. These include former Netflix VP of content, Rodrigo Mazón; Softbank Group International’s former CEO, Marcelo Claure; and even world-renowned writers like Mario Vargas Llosa and Maria Dueñas.
The companies have a long history together. Televisa has produced and licensed content for Univision for years. It hasn’t always been a friendly relationship: In 2009, both companies settled a four-year legal battle over unpaid royalties for Televisa’s produced content. The Azcarraga family, which has owned Televisa for three generations, was also part of the founding of Univision in 1962.
There’s no doubt that both companies needed innovation to survive the new world order that Netflix and the rest of the streaming companies have led. Univision’s primetime audience fell from 3.7 million to 2 million from 2010 to 2016. Televisa has also lost market share in Mexico as more people opt for paid, ad-free entertainment. We can’t wait to see them compete in the streaming wars.