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Paramount and Canela Media Announce Strategic Alliance In Key Latin American Markets and Miami
Wednesday, March 13, 2024
Canela Media will lead the ad sales for Pluto TV in several markets in Latin America, including Colombia, Peru, Ecuador, Bolivia, Uruguay, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, and Venezuela. Additionally, Miami will be positioned as a strategic hub for brands seeking pan-regional coverage, excluding the Mexican territory.
MIAMI, March 5, 2024 /PRNewswire-PRWeb/ -- Pluto TV, the global free ad-supported streaming television service (FAST), and Canela Media, a leading technology and innovation driven media company, announced today an exclusive two-year alliance. This strategic agreement involves Canela Media overseeing the ad sales for Pluto TV in key markets of Latin America, such as Colombia, Peru, Ecuador, Bolivia, Uruguay, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, and Venezuela. Miami will serve as a central point for media agencies and advertisers seeking regional coverage, except for Mexico. As part of this partnership, Canela Media will integrate Pluto TV into its comprehensive portfolio of media solutions for advertisers, including its renowned free streaming service, Canela.TV.
"We are very pleased and excited to have finalized this commercial agreement with Canela Media where we are anticipating highly successful results and an increase in Pluto TV's revenue alongside a partner that has transcended internationally, which shares a comprehensive vision like ours and a commitment to its consumers like us," said Eduardo Lebrija, EVP Regional Leader & Chief Commercial Officer LATAM at Paramount. "Pluto TV's vast offering of unique and free programming, covering virtually all genres and demographics, will position Pluto TV optimally to experience exponential growth in these markets along with Canela Media."
Since its launch in Latin America in 2020, Pluto TV has experienced rapid growth in the region and continues to expand its international presence, reaching over 35 countries and territories. This Emmy® award-winning service offers more than 167 channels in Latin America with a varied selection of channels featuring curated content by experts in collaboration with over 425 content partners globally. Hand in hand with Canela Media, this commercial agreement aims for Pluto TV to strengthen its presence in these territories through attractive packages aimed at reaching more audiences, with enhanced targeting capabilities and through more touchpoints.
Eric Tourtel, President of Canela Media for Latin America, commented: "We are excited about this alliance with Pluto TV, where, by joining forces with Canela.TV, we create a scalable audience reach between both platforms for the markets covered by this agreement. This collaboration reflects the shared vision of two industry leaders creating a one-stop-shop for media agencies and advertisers to leverage the combined reach of Pluto TV and Canela Media for their advertising strategies including CTV and mobile."
Canela Media has revolutionized the OTT space, standing out as a leading OTT video publisher, thanks to its innovative approach to content and advertising solutions to reach scalable Latino audiences in the United States and Latin America. Its free streaming service, Canela.TV, has experienced impressive growth in Mexico and Colombia since its launch in 2021, with increases of 85% and 27% respectively in monthly active users. Canela.TV offers more than 35,000 hours of content, including original productions like 'Secretos de Villanas' and a robust library spanning from Turkish dramas to Hollywood hits. Additionally, also offering specialized verticals such as Canela Deportes, Canela Music, and Canela Kids, along with over 90 live channels.
Through this agreement, Paramount and Canela Media will continue to strengthen their presence in the entertainment and streaming industry, offering innovative solutions and benefits for advertisers and media agencies in the region.
About Paramount
Paramount Global (NASDAQ: PARA, PARAA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic studios, networks and streaming services, Paramount's portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV, and Simon & Schuster, among others. Paramount delivers the largest share of the U.S. television audience and boasts one of the industry's most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, Paramount Global provides powerful capabilities in production, distribution, and advertising solutions.
About Canela Media
Canela Media is a leading, minority-owned technology driven company offering brands a complete ecosystem to connect with multicultural audiences starting with its free streaming platform service, Canela.TV, which enriches the new generation of U.S. Latinos with free access to unique, culturally relevant content. In addition to TV content, Canela Media offers a unique blend of music programming through Canela Music featuring emerging and established Latino artists, Spanish-language Children's content through Canela Kids and sports programming through Canela Deportes.?
As part of Canela Media's proprietary data solution offering, Canela Audience Solutions is centered on an OTT first approach that helps identify U.S. Hispanic audiences in English and Spanish language OTT platforms providing unprecedented OTT scale for advertisers to reach U.S. Hispanics. Moreover, Canela Media's large scale in premium Spanish-language sites, combined with the company's proprietary data, provides in-depth knowledge and understanding of how to establish meaningful and culturally relevant connections with the new mainstream Hispanics across the U.S. and Latin America.??
Media Contact
Marie Moore, Canela Media, 9173754790, mariekmoore@me.com, www.canelamedia.com
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SOURCE Canela Media
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